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Apple has shown few signs of being slowed down by the recession. That’s likely to continue when it reports fiscal fourth-quarter results on Monday.

The maker of iPods, iPhones and Macintosh computers is projected to post a 13% year-over-year earnings increase to $1.42 a share, according to Thomson Reuters, well above the top end of Apple’s own forecast of $1.18 to $1.23. But some on Wall Street are quietly expecting even more — Apple has a record of exceeding estimates and some investors are anticipating around $1.60. Apple’s revenue is forecast to rise 17% to $9.2 billion.

Analysts believe sales of Apple’s new iPod Touches, released in early September, as well as the iPhones were strong. Apple also started selling Snow Leopard, an upgrade to the Macintosh operating system during the quarter. That will allow the company to maintain its already high gross profit margin because software is more profitable than hardware.

Still, Wall Street has worried recently that expectations for Apple could be too high. The company’s shares, up 93% in the past year, had risen since the end of September in anticipation of strong quarterly results but fell 1.3% to $188.05 on Friday.

Associated PressA customer walks near a screen showing an iPhone at a local store in Seoul, South Korea.

Some analysts say the company may not live up to the high expectations because of iPhone supply constraints. Apple launched its latest iPhone 3GS, with a faster processor and new features like video recording, in June and has been rolling it out in markets overseas.

“I wouldn’t be surprised to see near-term profit taking,” said Shaw Wu, an analyst for financial-services firm Kaufman Brothers.

As it has in the past, Apple will likely once again make a conservative forecast for the current quarter. But investors and analysts are wising up to that tactic. Officially, Wall Street is forecasting December quarter earnings of $1.91 a share, according to Thomson Reuters, but analysts say Apple will probably forecast $1.68 a share.

Apple will “do all they can to lower expectations for the next quarter, which is going to be tough because it should be huge,” said Tim Ghriskey, chief investment officer of New York-based Solaris Asset Management, which owns Apple shares.