Morgan Stanley Pre-Announces 2009 iPhone Sales

Next year is shaping up to be Apple’s (AAPL) best financial year ever–and we’re not even out of 2008 yet.

Last week Piper Jaffray (PJC) analyst Gene Munster said the company’s new App Store could end up generating $1.21 billion in revenue. And now Morgan Stanley (MS) is predicting Apple will sell 27 million iPhones in 2009. “We believe the market generally expects a doubling of iPhone units with the lower price point ($199) and we believe this is realistic, if not conservative,” the investment bank said in a note.

At $200 a phone that would generate roughly $5 billion in revenue. And that’s not accounting for whatever subsidy Apple’s collecting from its carriers.