Even if a "real" survey hinted that the price range for the iPhone is just a tad too much, Morgan Stanley is still unfazed about their iPhone predictions. According to one of their analysts, Kathryn Huberty, the market is underestimating the likely success of the iPhone.

So confident in the iPhone she is that she raised her iPhone sales forecast by 33% to 8 million units from 6 million. Aside from that, she also believes that Apple's ability to leverage strong iPhone demand is being underestimated. According to her:

While we see positive leverage drivers across Apple's product segment, the iPhone alone increases scale (better pricing from suppliers), strengthens retail store leverage (increased velocity on fixed-cost base) and takes advantage of lower NAND [memory] pricing in the market.