It's because analysts had set stratospheric goals of 8-10 million by doubling last year's 4S sales. It was a case of oversimplification (assuming twice the pre-order sales meant twice the total orders). I think the reality is that Apple is limited by supply. If they had 10 million phones to sell over the weekend, they might have sold 8-10 million, but they had 5 million to sell.
9/24/12 at 6:59am