Apple has one of the few problems that companies would like to have: too much demand for their products. After news came out that Apple’s initial pre-order of 600,000 units for the iPhone 4 sold through with lightning quickness, analysts were scrambling to adjust their sales recommendations.

“Given the size of the iPhone 4 pre-order and our analysis of the expected upgrade cycle, particularly the remaining 3G users, we believe the full launch weekend of June 24-27 is shaping up to potentially be a two million – three million iPhone event,” writes Susquehanna Financial’s Jeff Fidacaro.

Apple’s stock reached a new high of $274.02.

Source: Fortune {link no longer active}