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Piper Ups iPhone Sales Estimates to 4.47 Million for Q4

Piper Jaffray analyst, Gene Munster, has recently upped his target estimate of the number expected Q4 iPhone 3G sales from 4.1 million to 4.47 million, according to a Wednesday report to clients.

“Munster’s new estimate is based 1) on Apple’s report that it sold 1 million iPhone 3Gs in the three days following the device’s July 11 launch and 2) on 25 hours of in-store checks across the United States conducted over the past two weeks.” via Fortune.

After a count of iPhone 3G sales, his team has concluded that Apple stores sold an average of 95 iPhones per day in each of its 188 U.S. stores. Combining these sales with totals from AT&T’s 2,200 outlets in addition to the number of iPhones sold internationally, Munster has landed upon his 4.47 million estimate.

Piper’s estimate may be on the conservative side as they have not taken into account the addition of 22 more countries on the 22nd of August. We have already seen reports indicating that Apple has sold over 3 million units to date, thus a 4.47 million estimate may indeed be on the low end with 51 days remaining in the quarter.

Munster adds that he anticipates the daily rate at which iPhone 3G’s are sold to decline from 95 per day to 31 per day.

[via Fortune]

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