Apple could sell 10 million in a week iPhone 5, analyst says - CBS News

(CBS News) It's been only a day since Apple announced its Sept. 12 event, but one analyst is already estimating how many devices the company will sell.

According to a report by AllThingsD, Gene Munster, analyst at Piper Jaffray, says that Apple could possibly sell between 6 million to 10 million iPhone 5s in the first week of launch.

While that is massive number, it's not unheard of. The iPhone 4S saw 1 million pre-orders within 24 hours of launch, with sales hitting 4 million in its first three days.

The boost in sales could give Apple a nice bump. Sales for the iPhone 4S slowed down in the summer months. For the first time since the iPhone 4S was released, the Samsung's Galaxy S III surpassed the Apple smartphone in the month of August.

Apple chief financial officer Peter Oppenheimer speculated in a July earnings call that the slump in sales could be from rumors of the next iPhone.

Apple is widely expected to announce the iPhone 5 on Sept. 12 at an event in San Francisco.