Piper Jaffrey's mock up of the new Apple tablet

According to Piper Jaffrey senior analyst Gene Munster, an Asian component supplier has received orders from Apple for a touch-screen device (“Wrap”) that is larger than an iPod but smaller than a laptop. He believes the order will be fulfilled later this year. Munster has long prophesised about an imminent Apple device that will run iPhone apps and can be used for web surfing and digital media. But this latest rumour has got him so excited he’s created a mock-up of what it might look like and back-of-fag-packet figures on unit price and profit.He reckons the hardware will retail for between $500-$700, and could sell 2 million units, generating $1.2 billion profit.There’s incentive for rightsowners too: according to a recent story in the FT, the device will be launched with a new digital album format to revitalise sales of `CD length music’.

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