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iPhone Slowdown Rumor 'Total Joke': Piper Jaffray Analyst

Rumors that Apple is slowing production of its wildly popular iPhone 4s are "a total joke," Piper Jaffray's senior research analyst told CNBC Wednesday.

"We talked to 30 Apple stores in the U.S. Monday; 17 didn’t even have iPhone 4s," Gene Munster said. "So why in the world would Apple be cutting production of a product that they can’t even keep in stock?"

He said he has also talked to one of his more reliable sources, a component supplier for Apple , and he learned there is continued strong demand for the iPhone and so he expects to slowing of sales.

The rumors started swirling on a report from Taiwan's Commercial Timesthat Apple was cutting back shipments from the fall to early 2012 because sales weren't as strong as expected and because of shortages in "key components."

Munster said the initial production run of the iPhone 4s has been fine. "Is there a scenario where Apple could be tweaking the channel?" he said. "It's hard to imagine based on what we're looking at."

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Disclosures:

Neither Gene Munster nor his company own shares of Apple.

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