Supply has "dramatically improved" for Apple's newest smartphone, analysts at the investment bank say, and its international expansion will boost results too.
Apple's latest iPhone overtakes the Samsung Galaxy S4 to become the top-selling smartphone at all four major carriers in the US.
The iPhone 5 is the world's top-selling smartphone, according to Canaccord Genuity, but the Galaxy S4 has put pressure on Apple around the globe.
Apple's victory may be short lived, says analyst Michael Walkley, as Android is likely to regain lost ground this quarter based on preorders for new high-end phones.
Analyst Michael Walkley's forecast is up from a prior estimate of 171 million. He cited two reasons for his rosier outlook.
The struggling mobile device maker may not be able to break even until the end of fiscal 2016, a Canaccord Genuity analyst says.
Company's CFO says the Internet radio service increased its market share even after iTunes Radio launched.
Holiday shoppers could help Apple beat the 47.8 million iPhones sold during the same time a year ago, predicts a Canaccord Genuity analyst.
The Galaxy S4's arrival, plus lower prices for other Samsung models, lifts the phone maker above Apple for the first time since the iPhone 5 came on the scene, according to Canaccord
The wait time for the new smartphone via Apple's online store continues to improve.