These younger iSiblings will provide the fuel to sustain Apple's amazing growth rates, which until now have been almost single-handedly driven by the iPhone.
The next version of Apple's tablet, the iPad 3, is expected to arrive in March.
But the product that's been getting the most buzz is an Apple-branded TV - nicknamed by pundits as the iTV. While unconfirmed by the company, most analysts believe the iTV is in the pipeline and will debut before the end of the year.
The added pop an iTV would deliver to Apple's bottom line, along with the iPad's continuing dominance of the rapidly growing tablet market, will make AAPL worth at least $600 over the next year or so.
"If Apple were to sell a TV, we continue to believe its margins and pricing could be industry leading given its vertical integration with content," Barclays Capital (NYSE: BCS) analyst Ben Reitzes wrote in a note to clients.
Toronto's Globe and Mail newspaper set off the latest wave of iTV speculation this week when it revealed that two of Canada's largest telecommunications companies, Rogers Communications (NYSE: RCI) and BCE, Inc. (NYSE: BCE) were in talks with Apple.
The Globe and Mail report added that both companies already had an Apple iTV in their labs.
Numerous rumors out of China in recent months have claimed that Apple's manufacturing partners are already gearing up for production of Apple iTVs.
The only snags appear to be the availability of the display screens in sufficient quantity and deals with content providers, which Apple has been working on for well over a year. But Apple is very good at resolving such problems.
Reitzes calculated an iTV could contribute $5.40 of earnings per share (EPS) to Apple's bottom line in its 2013 fiscal year. Reitzes puts Apple's total estimated EPS for 2013 at $48.46.
When you multiply that by Apple's modest price to earnings (P/E) ratio of 13.26, you get a stock price of $642.58. And keep in mind that the historic average for Apple's P/E over the past five years is 22.6. That math puts AAPL over $1,000.
Reitzes believes the Apple iTV will capture about 5% of the LCD-TV market, which is expected to sell 230 million units in 2012.
The Magic of iTVOnce in the market, the iTV will reshape the TV manufacturing industry, creating the same kind of headaches for competitors as the iPhone and iPad did.
"It appears that mainstream TV manufacturers are likely to be at least six to 12 months behind in the best-case scenario," Jefferies & Co. analyst Peter Misek told the Los Angeles Times. "Many of them lack the software and cloud capabilities as well as the innovative cultural elements to effectively compete."
So what will be so special about Apple's version of television?