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Apple to Sell Record 30 Million iPhones this Quarter, UBS Says

Analysts at investment bank UBS are revising up their sales estimates for Apple's iPhone range, largely due to the performance of the newest member of the clan. iPhone 4S has exceeded all expectations having already broken a few sales records, and now it could help Apple to reach 30 million smartphones sold in the last quarter of 2011.

The industry observer making this prediction is Maynard Um, analyst for investment bank UBS. He needed to readjust his iPhone sales forecast up from 28 million units to be sold in Q4, after a recent announcement by AT&T, Apple Insider reports.

The carrier is expecting to have its best smartphone quarter ever on the back of massive iPhone 4S sales. After the sales projection was raised, the prediction of Apple's revenue was also raised as a logical consequence. UBS now estimates that quarterly revenue will reach $38.5 billion, up from $37.2 billion.

Many other analysts were forced to revisit their forecasts after Apple's new flagship device surpassed all expectations. Sterne Agee analyst Shaw Wu and J.P. Morgan were more conservative and suggested that Apple will probably sell about 28 million iPhones this quarter.

Apple officials are understandably very excited about their iPhone range and they expect sales to reach an all time high this quarter; the previous quarterly record was just over 20 million units sold.

Radu has been working as a freelance writer for more than five years and has been blogging around since 2004. He is interested in anything Apple as well as gaming and mobile applications.