We've already heard that Apple is taking a risk by being low on supplies for iPhone 4, and now at least one analyst says it's too far: Shawn Wu of Kaufman Bros. is lowering his expectations for iPhone 4 sales this year. Of course, that means he's cutting expected sales from 9 million to 7.5 million (which means Apple would still make truckloads of money), but nevertheless, Wu says that "an inventory drawdown and screen supply constraints could impact near-term shipments over the next two quarters." Ouch -- that's pretty harsh by analyst standards.

I think Apple was in the same boat with me on this one -- after such a successful iPad launch (and a not-bad 3GS launch last year), I didn't think that the iPhone 4 launch would provide too many issues. But from all of the anecdotal and sales data we've heard so far, it was huge -- much bigger than any of the previous iOS device launches so far. Apple's probably not worried -- 7 million phones is still plenty of phones for them. But it certainly seems, especially since a lot of stores still don't have phones ready and in stock, that they were caught off guard by demand.

This article was originally published on Tuaw.
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