I found the whole bit from Piper Jaffray suspect, at best.
It seems PJ completely blew their iPod projection, and the iPod touch isn’t breaking any records either. The analysts failed to mention that Apple was handing out big red sale flyers on Friday which subsequently wound up on shopping mall benches (hence, the draw). And, 5.3 Macs and 1 iPhone per hour – the numbers were 4.3 Macs and 1.3 iPhones per hour in August. Apple could fare no better on what is supposed to be the busiest shopping weekend of the year when compared to a so-so back-to-school sales period, with a “red flyer” sale going on?
There’s more speculation here.