Apple Expected To Sell 4.5 Million iPhones This QuarterApple Expected To Sell 4.5 Million iPhones This Quarter

Apple is on track to sell about 4.5 million iPhones worldwide in the current fiscal quarter, according to Piper Jaffray analyst Gene Munster.

In a report to clients Wednesday, Munster raised his estimate from 4.1 million to 4.47 million after seeing the iPhone 3G have a tremendously successful launch weekend, and after additional in-store research. By comparison, Apple sold about 1.12 million units of the first-generation iPhone during the same period last year.

The analyst also estimated that Apple sells 95 units a day at each of its 188 U.S. retail stores, although that figure is expected to decline by about 10% for the remainder of the quarter, which ends September 30. Apple did not respond to requests for sales figures.

The U.S. market accounts for the majority of sales in Munster's prediction, with about 2.7 million handsets sold. But Munster said his estimate may be conservative because it doesn't take into account the 22 additional markets that are expected to sell Apple's touch-screen smartphone beginning August 22.

Additionally, Munster's analysis doesn't take into account the recent announcement that Best Buy will soon be selling Apple's smartphone. The move will greatly expand the accessibility of the iPhone, as Best Buy has 970 store and 16 Best Buy Mobile Stores across the United States. This could be important in moving units because there are still reports of lines to buy the iPhone 3G, even though it's been out for over a month.

The iPhone 3G has been a sales hit thanks to its touch-screen interface, high-speed mobile Internet capabilities, built-in GPS, lower price point, and its ability to add applications. But there have been multiple reports that that handset is responsible for reception issues, and that could potentially harm sales.