Gene Munster of Piper Jaffray has always been good at predicting Apple sales. Here’s another one. He has increased his earlier iPhone sales estimate pointing out that Apple will be selling close to 4.47 million instead of 4.1 million iPhones this quarter. Last year, around the same period 1.12 million first generations iPhones were sold.

His new estimates are based on:

• Apple report which states that it sold 1 million iPhone within the first three days
• In-store checks done round the clock in the past fourteen days

Estimates were made by his team by taking into consideration the flagship and regular Apple stores. They noticed that over a period of 27 days, an average of 95 devices a day were sold in all it’s 188 stores in the U.S. He added these findings with the other report estimating the number of iPhone sales at 2,200 AT&T outlets and the number of devices sold by offshore carriers. However, Munster thinks the estimates are still conservative, since potential sales in 22 countries on August 22 hasn’t been taken into account.

There’s a good chance that the sales will exceed Munster’s predictions. We’ll know in a month’s time.