Initial first weekend sales estimates are approximated at 500,000 to 700,000 for the latest Apple product. The iPhone is soon to become just as popular as other products, such as the iPod or the Macintosh computer.

Blackfriars Marketing noted an average of two to three customers coming out of the Apple stores with iPhones on Friday night every single minute. With this fact, they considered that at peak time, sales for Apple could have reached 30,000 per hour. Between Apple and AT&T it is believed that they have sold 500,000 iPhones the opening weekend. Trip Chowdhry of Global Equities Research estimates that the number of iPhones sold that opening weekend would be a bit higher: 525,000.

The Wall Street Journal Online afternoon report stated that:

“Goldman Sachs pegged weekend sales at least 700,000 units — double its prediction of 350,000 — and raised its projection for iPhone sales to 5.3 million from four million. J.P. Morgan analysts were considerably less sanguine, saying Apple would recognize 312,000 unit sales for the just-ended quarter. “We believe initial demand may have been disappointing, but it’s still early,” they wrote.”

All this buying frenzy led to empty shelves at Apple Stores and AT&T outlets across the country. The iPhone can be ordered online from the Apple website, but there is a two to four week wait for delivery. Not surprisingly the iPhone is already available at online auction site eBay.com.

In fact an auction was just how the first iPhone itself was obtained. One person paid $100,000 to get the popular phone - and to support a good cause. As of this writing the lucky winner still remains anonymous. Proceeds for the charity auction benefited Keep A Child Alive, a charity that gives anti-retroviral treatment to children with AIDS in Africa.

Abigail Beal writes about issues of interest to community groups and non profit organizations. She is a frequent contributor to StepbyStepFundraising.com which provides information about fundraising options such as charity auctions.

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