He's changed his mind because, he says, chipmaker Qualcomm disclosed "it is having trouble meeting demand for components that the analyst expects to be included in a new iPhone," according to Bloomberg.

The components in question apparently are Qualcomm's LTE/3G radio chipsets, but that's not completely clear from the Bloomberg account. Bloomberg reports that Munster "said in the note that Qualcomm's radio chips that allow for faster connection to the Internet will be included in the next-generation iPhone."

Qualcomm executives in this week's earnings call with analysts said that the company's growth in the current fiscal quarter "could be limited by a shortfall in supplies of chips based on a new manufacturing process" used by its main Taiwan chip foundry, , though the Journal didn't clarify if "chips" referred to a specific product, such as the latest Snapdragon CPU or the LTE product, or to a range of products that might be using the new smaller 28-nanometer production process.

But the that Qualcomm was definitely talking about the Snapdragon S4 CPU: The company had underestimated demand for the processor and its main manufacturer would not be able to supply enough chips to meet demand until near the end of 2012.

But if that's where the supply crimp is, it won't affect iPhone 5, because Apple uses CPUs built to its own design.