In a research note this week Piper Jaffray analyst Gene Munster chimed in on the Apple tablet rumours, offering sales predictions for the device and a mockup of what he believes the device will look like.

Munster predicts that Apple’s tablet will launch in early 2010 and sell roughly 2 million units in the first year. The analyst estimates that the tablet will cost $600 giving Apple an additional $1.2 billion in revenue, a 3-percent revenue rise for the company.

Munster explains that despite the device looking like a niche product it will probably outsell the Apple TV, “While at first glance this may appear to address a niche market, we believe the addressable market is larger than that of the Apple TV, of which Apple sold about 1.2m in its first year”.

Munster sees the device as sitting between the iPod touch and low-end MacBook priced between $500 and $700 with the capability of running “most” of the 70,000 apps available on the iPhone App Store. The tablet will be marketed as being used for web surfing, email, and digital media.

Munster also adds some credence to rumours that the device would be tethered to a carrier such as AT&T or Verizon and will have a 3G modem built in.