FORTUNE has polled 40 Apple analysts, both professional and independent, to estimate how many iPhones were sold last quarter.
Apple's fiscal Q1 2012 runs from Sep. 25 to Dec. 31. Both professional and independent analysts believe it will be a huge quarter with independents (as usual) predicting higher sales than the pros.
The numbers from the 22 Wall Street analysts who have responded so far to our call for estimates range from a high of 35 million iPhones from BTIG's Walter Piecyk to a low of 25.2 million from Gabelli's Hendi Susanto. The average among this group is 29.74 million, which would represent a year-over-year increase of 83%. The average among our panel of 15 independents -- an assortment of bloggers, enthusiasts and individual investors -- is 33.42 million iPhones, or an annual increase of nearly 106%.
Apple is set to report its earnings on January 24th. Take a look at the chart below to see the numbers.
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