In a note to investors on Friday, Jefferies analyst Peter Misek claims "terrible" production yields of the new Touch ID fingerprint sensor has resulted in a chronic shortfall of new handsets.
Munster reckons the company will only have between 5 and 10 million handsets ready to go for the remained of this quarter, when Apple's most loyal devotees are expected to pick up the device.
The alleged shortage may explain why Apple is not offering iPhone 5S pre-orders and is not commencing the sales until the actual release date.
It may wish to assure wannabe owners, as many of the handsets will get into the hands of those lining up at its retail outlets next Friday. If Misek is correct it appears that limited numbers of handsets will be available online before those pesky delivery estimates begin to rise.
Of course, this year, there are two new handsets going on sale, which may split the pack of iPhone buyers and ensure iPhone 5S supplies aren't extinguished too quickly The iPhone 5C opened for pre-orders today, ahead of next week's release. Misek reckons Apple will have plenty of those to go around as it will have built 20m handsets by the end of the quarter.
Will you be lining up for an iPhone 5S or iPhone 5C on September 20? Which handset tickles your fancy? Let us know in the comments section below.