Earnings estimate for Apple adjust by the day as the company's upcoming products continue to make headlines. According to recent information, the tech giant plans on releasing its iphone 6, iPad Air 2, iWatch and 2014 MacBook series in the second half of the year. Looking at the leaks and patent sightings, it appears Apple is out for some serious business. Will these product releases be any good for Apple's future?

Susquehanna Financial Group analyst Christopher Caso published another earnings estimate through investor's note. According to a report by Wall Street Cheat Sheet, Caso predicted previously that the next iPhone will come out this summer. However, based on the latest supply chain sources, the analyst suggests that Apple will follow a similar timeline to its previous releases. Caso, like other analyst, strongly believe Apple will release two display sizes.

"We expect that a smaller screen version of iPhone 6 will commence production in July, with a larger version beginning production in August," Barron's quoted Caso in the note.

"While we think the phone launch timing will be similar to last year, based on initial production forecasts, we think there is likely to be more volume available at launch as compared to last year."

Caso also cuts his forecast for Apple on the second and third quarter of the year.

"Note that our estimates had previously been more aggressive, and had assumed that AAPL would be able to ship some iPhone 6 volume in July," Caso explained in the research note.

"For 2Q, our revised estimates reflect sales of 30 mln iPhones, down from 32.6 mln previously, and slightly lower iPad units (18 mln vs. 20 mln previously). For 3Q, we expect 37 mln iPhone units, which anticipates a very strong launch with more volume available vs. last year."

The supply chain sources mentioned also indicated Apple's production of the iWatch and the larger version of the iPad.

"[W]e have finally noted two new products on the production schedule, including a watch as well as a 12" tablet that contains a keyboard," added the Susquehanna analyst. Caso also provided estimates for the upcoming fiscal year. The analyst explained Apple's potential performance in relation to the iWatch and the iPad Pro.

"Our estimates reflect modest assumptions for phone and 12" iPad shipments in C4Q," Caso said.

"We believe watch production is anticipated to be 3 mln units/month starting in September, although this may change as we get closer to launch. Our revised FY14 estimates of $184.9 bln/$42.54 are down from $195.5 bln/$46.51 and reflect the later launch of iPhone 6. We are also introducing our FY15 estimates of $198.5 bln/$46.80."