When Apple announced that it expected to sell 10 million iPhones in 2008, some were doubtful, such as Bernstein analyst Toni Sacconaghi who projected that Apple could easily come 20% short of its goal. However, the general outlook has changed dramatically. Earlier this month, Piper Jaffray’s Gene Munster projected that 4.4 million iPhones (up from his prior estimate of 4.1 million) are likely to be sold in the fiscal fourth quarter. Credit Suisse’s Bill Shope is also reconsidering his prior fourth quarter projection of 4.2 million iPhones. (via Tech Trader Daily) As far as total iPhone sales for the year, BusinessWeek reports,

Many analysts expect Apple (AAPL) to sell around 11 million iPhone 3Gs in 2008 and another 25 million in 2009. But perhaps the most optimistic forecast is from Piper Jaffray (PJC) analyst Gene Munster, who expects the company to sell 13 million this year and 45 million next year.

Further a source identified only as “someone familiar with the company’s plan” has told BusinessWeek that Apple is intending to manufacture between 40 million and 45 million iPhones in the next twelve months.

I don’t envy the MobileMe development team one bit for it is upon their shoulders to ensure that this epic win doesn’t turn into an epic fail.