Verizon iPhone 4 to sell more than a million in its first week.

A report is stating that RBC Capital’s Mike Abramsky believes that Verizon will sell more than 1 million iPhones in the first week and 3-4 million by the end of March. He has seven key factors:

• The iPhone 4 at Verizon is new, but not novel (vs. when AT&T first launched its version of the iPhone 4).
• A lot of existing Verizon customers with Google (GOOG) Android phones are still on contract.
• AT&T offered customers an early upgrade option; Verizon did not.
• There are a lot of AT&T iPhone owners who might like to switch, but are still on contract.
• Verizon’s data plan ($30/mos.) is more expensive than AT&T’s $25 and $15 offerings.
• AT&T’s first-quarter iPhone 4 sales covered 13 weeks vs. Verizon’s 7 weeks.
• Some potential Verizon customers are holding out for the iPhone 5, expected to arrive this summer.

Seeing how nobody wants their Droids now it seems like a safe prediction.