You might have heard that Apple is set to unveil a new iPhone tomorrow. Wall Street certainly has, and analysts have been predicting how many units Apple will sell out of the gate. Anticipation for the iPhone 5 is ridiculously high, and Apple is expected to shatter the records it set with the 4S last year.
While estimates vary, the general consensus is that Apple will sell between 8-10 million iPhone 5s in September, which would be huge for Apple’s last fiscal 2012 quarter.
Tomorrow’s media event is where the iPhone 5 will be unveiled to the world, with pre-orders starting by this weekend. Keeping in line with previous launches, Apple is expected to officially start selling its new iPhone in stores on Friday, September 21st. The 21st happens to be 8 days before the end of Apple’s fourth fiscal quarter of 2012. Record-breaking opening week sales will obviously be great for Apple to report during its next earnings call. Last quarter, the iPhone accounted for 46% of Apple’s revenue. (The iPhone was an even higher 58% of revenue in Q2 of 2012.)
So how many iPhone 5s will Apple sell before the month is over? Fortune talked to some Wall Street analysts about iPhone 5 predictions, and everyone has high hopes. 8-10 million units this quarter seems like a safe bet, and estimates for Apple’s first weekend sales remain varied. Most seem to think Apple will at least double the weekend sales figure it set with the 4S.
According to AllThingsD, Topeka’s Brian White is thinking 5 million units during opening weekend:
“Given that the iPhone 4S received over 1 million pre-orders in the first 24 hours, we expect at least 1.3 million to 1.5 million pre-orders for the iPhone 5,” says Topeka analyst Brian White. “Assuming supply chain constraints aren’t a major issue and the seven country rollout ensues, we believe at least 5 million to 5.5 million iPhone 5’s can be sold in [the first three days].”
Well-known Apple analyst Gene Munster expects tomorrow’s announcement to be the “largest consumer electronics launch in history.” Whether you consider that hyperbole or not, one thing is for sure: Apple is about to sell a lot of iPhones.