About a month ago we covered some predictions about iPhone sales made by a Credit Suisse Analyst:

Credit Suisse has come to the party with analyst Rob Semple predicting that Apple will sell 5 million iPhones this year and 15 million next year, which is ahead of Apple’s own predictions.

Well, the iPhone has been out since Friday. While it will take some time to see if Mr. Semple's predictions prove accurate, we can check on first weekend sales.

At the San Jose Mercury News, we have this cryptic statement from AT&T: "AT&T said the two partners sold more iPhones in a weekend than AT&T has sold of any gadget ever in an entire month."

Bloomberg quotes a number of analysts at the major brokerages.:

Shoppers may have bought as many as 700,000 units over the weekend, Goldman Sachs Inc. analyst David Bailey said, twice his projection of 350,000. Piper Jaffray's Gene Munster pegged sales at about 500,000, more than twice his original 200,000 estimate.
...
J.P. Morgan Securities Inc.'s Bill Shope said sales may have reached 312,000 in the days following the device's June 29 debut. American Technology Research analyst Shaw Wu, who called his initial 50,000 estimate conservative, said in a note today that Apple may have sold five times as much.

So Apple probably sold at least 250,000 iPhones, and maybe as many as 700,000! If you'd like to browse a few hundred more estimates, check this Google News link.