IPhone Sales Circle 700,000

Apple's (APPL) highly touted iPhone "all but sold out" its initial shipment in both Apple and AT&T (ATT) stores after just three days of sales, the companies said Monday.

Neither Apple nor AT&T disclosed precise sales figures. Tech and telecom analysts estimated sales of 500,000 to 700,000 units of the combination phone, iPod and pocket Internet device by Sunday.

"It's a phenomenal start," said Gene Munster of equity firm Piper Jaffray. "Apple had an incredible weekend."

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