Piper Jaffray Forecasts iPhone Unit Sales Pending Proposed Shipping Date

Piper Jaffray published a research report on Apple

that stated the iPhone 5 event has been confirmed for September 12 and its expectations for shipments on its new product. In the report, Piper Jaffray wrote, "We believe that if the 21st is the actual ship date, Apple could sell 6-10 million iPhone 5s in the final week of September barring supply issues. While not apples to apples, the midpoint of that iPhone 5 unit assumption (8m) would be up 100% y/y from the iPhone 4S 3-day sales figure of 4 million. As a point of reference, iPhone4S 3-day sales were up 135% over 4S in the same period (1.7 million). Additionally, we note that the 6-10 million iPhone 5 units that we believe could sell in September given a launch in the month would come out of our current 49 million December quarter unit estimate." Piper Jaffray maintained its Overweight rating and $910 price target on Apple, which is currently trading up 0.59 percent from its $665.24 closing price on Friday.