Analyst boosts Apple estimates, predicts 5 million iPhone sales

09/23/2008 | CNNMoney/Fortune

One of the more upbeat and closely followed analysts on Wall Street has boosted his estimates for Apple's fourth quarter, which ends next Tuesday, saying the company will sell more Macs, iPods and iPhones than earlier predicted. Piper Jaffray's Gene Munster told clients he is "incrementally more confident" that the company will overperform, saying that he expects Apple to sell 5 million iPhones and that the handset would, for the first time, account for a "meaningful percentage" of its revenue.

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