When Apple announces their first quarter earnings on Jan. 23, expect to see some huge numbers. One analyst, in fact, is projecting record iPhone sales during the holiday quarter, according to AppleInsider.

Rob Cihra of Evercore Partners has updated his projections for Apple’s December quarter. He now believes that Cupertino will see iPhone sales jump 35 percent year over year, and 86 percent growth from the previous quarter.

In total, Cihra sees iPhone sales of 50 million units, which would beat the old record significantly. That record, 37.04 million iPhone units sold, occurred during the first quarter of 2012.

Meanwhile, the analyst expects Apple to report iPad sales of 24 million units, which would be 56 percent better than the previous year. Compared to last year, this would represent a 71 percent boost. Of those, the iPad mini will account for sales of 10 million units.

Assuming these numbers prove to be accurate, they would represent great news for Apple, which has seen the company’s stock price drop significantly in recent months. After reaching a high of $702.10 on Sept. 18, the stock begins the second day of trading in 2013 at just over $549.

As noted in Apple’s Investor Relations webpage, the conference call on Jan. 23 will take place at 2 p.m. PST.

It will be accessible via audio webcast on the Apple Events webpage. If you have an iPhone, iPod touch, or iPad running iOS 4.2 or above, any Mac running OS X 10.5 or above, or any PC running Quicktime 7 or later, you’ll be able to listen to the call live on your device.

Source: AppleInsider