Analysts Low-Balling A Device That Doesn’t Exist

We expect a base case of at least 10 million units at Verizon for [calendar] 2011,” writes Craig, “although we only added 6 and 8 million units to 2011 and 2012, respectively.”

Reid is even more conservative. He’s only raising his 2011 iPhone sales estimates to 63.3 million from 62.5 million, or 800,000 units.

That’s it? 800,000 measly iPhones?

For reasons known only to themselves, analysts who have been breathlessly anticipating a Verizon iPhone are now busy lowering expectations.

I would like to remind these gentlemen that the Verizon iPhone is still, well, a rumor.