Apple Sells its Millionth iPhone

Apple says it has sold its millionth iPhone 74 days after its launch on June 29 of the iPhone. Steve Jobs says it took two years to nail that milestone with the launch of the iPod. Should we be impressed?

It would of been nearly impossible for Apple to have lived up to the hype surrounding the iPhone. But as it turns out Apple has done a pretty good job trying. Apple said it sold 270,000 iPhones during the first 30 hours the iPhone was on the market.

Now at one million, that's pretty staggering for a once $600 phone.

It turns out some analysts were close to reality with their predictions.

Opening weekend sales of iPhones were predicted to reach 500,000, according to analysts at Piper Jaffray. Some analysts at Goldman Sachs even predicted sales as high as 700,000.

Apple said originally it had set a goal of selling 10 million iPhones by the end of 2008. Piper Jaffray and other analysts said in early July they had expected Apple to sell about 3 million units this year. That doesn't seem too likely. However there are reports that a price drop on the iPhone has stirred interest among college students.

Still even some predictions still seem a bit unrealistic. Piper Jaffray says it believes Apple can hit 45 million iPhone sales by 2009. I don't buy it. Maybe Apple could hit the 45 million high-water mark after another $200 price drop and a more affordable monthly wireless service plan from a wireless carrier.

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