Exactly my point though, a good sales team should know this and predict accordantly, if you "think" you are going to sell 5 million iPhones on day one then wouldn't logic be to produce more then that? The Apple team will have known what dead lines they had to meet and how long the production of "x" amount of iPhones takes so its really just simple math..... the only thing they could say is they underestimated the demand for the new device but come on! 1 its Apple and 2 its iPhone the demand was going to be huge and they should have been more prepaired for it with a larger stock of iPhones ready to be shipped, some people are getting orders that now have a 3-4 week waiting time.
Whilst I'm not siding with Apple here, your argument seems to come down to basic economics. You say, 'if you "think" you are going to sell 5 million iPhones on day one then wouldn't logic be to produce more then that'. For a business, you are wrong. The logic is to produce less, because, as we know form the most basic rules of economics - as supply decreases and demand rises, prices rise. Which is why Apple can get away with charging such a huge some for a phone.