Gene Munster at Piper Jaffray, said he expects Apple will sell out of the more expensive iPhone 5S.
Apple, for the first time, has introduced an array of new colors for the iPhone, which launched Friday. The company has also introduced a cheaper version that comes in a plastic casing.
The more expensive 5S has an upgraded camera and a faster processor, and includes a new security system that relies on fingerprints to identify the owner, CNN reported Saturday.
The metal-backed 5S comes in gold, silver and "space gray," while the plastic-backed model comes in a variety of colors, CNN said.
Gold has proven to be the hands-down favorite color among purchasers of the high-end model. It is already listed online as not available until October, while the silver and "space gray" models can still be shipped in seven to 10 business days.
News outlets in China report the gold model has already sold out in China.
"It's new and shiny," said college student Chance Shafor, 22, who was the first in line at an Apple store outside of Atlanta Friday morning.
Gold-colored means colored aluminum, but consumers can shell out $35,000 for an actual 18K gold-plated iPhone 5 from luxury retailer Stuart Hughes, CNN said.
CNN did not say whether that model was sold out.