After months of speculation, the iPhone 5 will finally be announced next week on September 12 at an Apple Press Conference in California.
According to ZDNet, an Apply analyst believes that this phone could surpass if not, double, initial sales targets.
It's no secret that the iPhone is a hot commodity with people waiting in bated anticipation for the release of the iPhone 5. Apple sold 1.7 million iPhone4's during the first three weeks of its availability and sold 4 million iPhone 4S's during its first weekend alone.
Sales could get to as high as 10 million within the first week, says Piper Jaffray analyst Gene Munster to CNet.
Many people have been holding off on upgrading their phones to wait for the coveted iPhone 5 as well. According to AllThingsD Wall Street is expecting 22-23 million iPhones to be sold in the September quarter.
A J.P Morgan analyst Mark Moskowitz said to AllThingsD that the iPhone 5 will "not be hampered by chip and display-related supply chain shortages" as previously expected.
He said that he expects sales volumes to be extremely high by late September for the new iPhone and then a similar high note will occur for the "iPad mini" which is seat to come out as well in early October. He said, "We are not concerned about a "mini" (iPad) encroaching on Apple's current tablet penetration opportunities. We think the iPad mini will target the budget-conscious consumer or the e-reader focused end user, implying the device offers incremental penetration opportunities. Meanwhile, we do not expect enterprise- and education-based end users to gravitate to the smaller screen size of an iPad mini.
Moscowitz gave a revised estimiate that Apple will sell in total by the end of the 2013 fiscal year around 168 million iPhones and 91 million iPads.
This article is copyrighted by Travelers Today, the travel news leader
