Gene Munster talks $1.2 Billion Apple tablet

Piper Jaffray senior analyst Gene Munster issued another guestimate report today on Apple’s forthcoming Tablet, somewhat hedging his earlier 2010 forecasts to late 2009/early 2010.  

He even went out and had a computer-generated rendering of what he envisions the tablet looking like.  (Above right).  This isn’t unlike many other Apple Tablet renderings we’ve seen.

He also laid out these points:

• It will  be similar to an iPod touch, only larger, capable of running most of the 70,000 applications on the iPhone App Store plus a new category of apps designed for the bigger screen.
• Will be used primarily for Web surfing, e-mail, and digital media, competing with netbooks without being a netbook.
• Will be priced between an iPhone and a MacBook — between $500 and $700.
• Is likely to include a 3G cellular modem and could be subsidized by a carrier — either AT&T (T) or Verizon (VZ).
• Will sell better than Apple TV did its first year (1.2 million units).
• Could in fact sell 2 million units at $600 each to generate $1.2 billion and add about 3% to Apple’s revenue stream in calendar 2010.

“Last week we spoke with an Asian component supplier that has received orders from Apple for a touch-screen device to be fulfilled by late [calendar year] 09,” he writes. “This data point underscores our thesis that a tablet will likely launch in early [2010].”