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Sprint's (NYSE:S) most recent selloff, falling about 13% from its August 31st high, is giving traders a great short term opportunity to make money. The market is failing to account for the boost in sales that Sprint will get once the iPhone 5 launches.

The iPhone 5 is just a precursor to all the other Apple (NASDAQ:AAPL) products that I expect Sprint will be able to carry. The iPhone 5 is an opportunity for Sprint to actually start gaining a large amount of net postpaid subscribers. Postpaid subscribers have a larger average rate per user (ARPU) and often sign contracts with the carrier. This will allow Sprint to bring more profitable customers that will be locked in to high revenue rate plans for the next couple of years.

Sprint has a huge advantage that many analysts are failing to account for as well. Sprint will be the only authorized carrier to offer an unlimited data plan for iPhone 5 users. This is a huge advantage over AT&T (NYSE:T) and Verizon (NYSE:VZ) and will lead to additional sales.

I estimate Sprint should be able to sell at least 2-3 million iPhones in Q4. I'm expecting the iPhone 5 to launch around the first week of October. I expect Sprint to get a nice pop once the sales results start rolling in. The sales could easily be much higher than the market is expecting. This is one of the most anticipated iPhone launches in a long time, this will bring a lot of pent up demand.

Sales for Sprint increased 3.56 percent over the last quarter, but those sales aren't making it to the bottom line. A lot has to do with the increased expenses that Sprint incurred trying to attract new customers. I expect those costs to decrease once Sprint launches the iPhone.

Sprint is still losing money but heading in the right direction. Sprint lost over $3 billion in 2010, I expect those losses to decrease substantially this fiscal year. If Sprint can add 6 million new iPhone subscribers annually, that could put an extra $600 million annually in Sprint's pockets. This estimate is based on an average rate plan of $100 per subscriber for unlimited talk and data. Sprint has yet to confirm the rate plans that will be available to iPhone subscribers.

I'm bullish on Sprint as a short term trade, and I'm looking to take advantage of the move that I expect once the iPhone 5 sales figures start rolling in. I don't believe that the iPhone can solve all of Sprint's issues, but it will definitely help.

Sprint will have to finalize its Clearwire (CLWR) buildout in order for me to start considering Sprint as a good long term prospect. Clearwire runs the 4G LTE network that Sprint uses and without it, Sprint will be left behind. Sprint is working on raising $600 million to buildout the rest of Clearwire's 4G network. I will keep an eye on Sprint's progress.

Source: Sprint: Bullish Short-Term Thanks To iPhone 5