iPhone 5 rumors: new iPhone sales could reach 10 million in current quarter

Apple has reportedly sent out invitations for a media event to be held on September 12, with rumors pointing to the release of the iPhone 5.

Piper Jaffray analyst Gene Munster estimates that the launch of the smartphone will bring Apple sales of up to 28 million.

His predictions seem very optimistic, as compared to previous expectations pointing to sales of between 22 million and 23 million iPhones in the September quarter.

The analyst believes that between 6 million and 10 million new iPhones will be sold in the last week of September.

The result would be an 8 % upside to Wall Street’s expectations of $35 billion in revenue and 12 % upside to earnings per share of $8.46.

The iPhone 5 is expected to be unveiled at an Apple media event scheduled to take place next Wednesday at the Yerba Buena Center for the Arts in San Francisco, Calif.