iPhone 5 Lines 83% Longer, 8M Sales Expected First Weekend

Lines for the launch of the iPhone 5 Friday contained 83 percent more customers compared to the launch of the iPhone 4S, according to Piper Jaffray analyst Gene Munster. This increase in customer demand will lead to 8 million unit sales during the phone’s first weekend on the market.

Customers in Glasgow, Scotland wait for the launch of the iPhone 5 Friday morning.
(Image via Mac Geek Gab listener Stevie Doyle)

Mr. Munster’s estimates are based on year-over-year observations at stores selling the iPhone 5 in New York, Boston, and Minneapolis. These larger lines, combined with nearly twice the number of online pre-orders, lead the analyst to believe that Apple will sell 49 million iPhones in the December quarter, as long as manufacturing delays or problems don’t constrain supply.

Record-setting iPhone sales, continuing strong Mac sales, and the anticipated release of the iPad mini lead Mr. Munster to set a $910 price target for the company’s stock, which is currently trading at $704.

Apple is expected to announce first weekend sales numbers for the iPhone 5 on Monday.