Analysts have raised their estimates for iPhone 4 sales, following the unprecedented demand for the device on its first day of pre-orders. On Wednesday, a day after consumers sent the pre-order systems of Apple (NSDQ: AAPL) and AT&T (NYSE: T) into meltdown, Apple said it and its carrier partners had topped 600,000 units.
In a research note, Piper Jaffray analyst Gene Munster upped his iPhone sales targets for both the quarters ending in June and September to 9.5 million from 8.5 million. He wrote that Apple will likely sell one million of the latest model iPhones within its first three days on sale.
UBS analyst Maynard Um believes Apple could sell 1 million units on its first day of launch. Last year, the iPhone 3GS sold 1 million units in its first 3 days on the market.
Munster pointed out that demand should be pushed up by AT&T