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Apple TV slated to debut in December?

That's according to a research note from Piper Jaffray analyst Gene Munster, who also weighs in on the iPhone 5.

Roger Cheng Former Executive Editor / Head of News
Roger Cheng (he/him/his) was the executive editor in charge of CNET News, managing everything from daily breaking news to in-depth investigative packages. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade and got his start writing and laying out pages at a local paper in Southern California. He's a devoted Trojan alum and thinks sleep is the perfect -- if unattainable -- hobby for a parent.
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Roger Cheng
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Apple could unveil its highly anticipated take on the television in December and ship it next year, according to a research note today from Piper Jaffray analyst Gene Munster.

Munster said he expects the Apple TV product line to cost between $1,500 and $2,000 and range in size from 42 to 55 inches. That's a considerable premium over typical televisions of that size, which have a range closer to $700 to $1,400.

The iPhone 5, which Munster said he believes will make its debut in October, will be the biggest consumer product launch this year and drive the biggest device upgrade cycle, he said.

These products figure prominently into the perception that Apple still has enough innovation swagger to continue to lead the consumer technology industry. The company has largely been given a pass for the incremental upgrades to the iPhone and iPad, even if sales have been impressive. But the next few products, including a refresh of its Mac line, could set the tone for how Apple under CEO Tim Cook will be perceived in the coming years.

"We believe Apple's product road map for the remainder for the year will include meaningful updates to core product lines including the iPhone and Mac," he said in the research note.

Even if the next iPhone isn't out yet, it's already plagued by concerns that it will suffer from shortages in chip supply. But Munster believes that Apple's leadership status should allow it to secure enough chips to drive production, even if comes at the expense of other companies.

There is an 80 percent chance that Apple hits his 49 million target for the iPhone 5 in the final quarter of the year, Munster said.

Munster is equally as bullish on the tablet market, which he said has the potential to surpass the PC market. He likewise believes Apple will continue to dominate the area, selling 176 million iPads out of a total of 301 million tablets by 2015. He said tablets could overtake PCs before 2020.