CGRect frame = CGRectMake(0, 0, 320, 480);
UILabel *myLabel = [[UILabel alloc] initWithFrame:frame];
myLabel.text = @"Any size text string";
[myLabel sizeToFit];
Thanks to the Stack Overflow community for teaching me about this.
CGRect frame = CGRectMake(0, 0, 320, 480);
UILabel *myLabel = [[UILabel alloc] initWithFrame:frame];
myLabel.text = @"Any size text string";
[myLabel sizeToFit];