Apple's much anticipated tablet is being eagerly awaited by fans, and there have been lots of speculations about its design and specifications. One analysts from a renowned investment banking facility has now speculated on how much the new offering would fetch for the company.

Apple's tablet device is expected to be announced next week, and could be one of the best selling products of the maker of iPods and Macbooks.

Mike Abramsky of RBC Capital has estimated that Apple will sell the gadget for about $600, and based on the price, there are possibilities that about 5 million units will be sold in the first year of release.

The new device is expected to fetch Apple an additional revenue of about $2.8 Billion.

"Anticipation for an Apple tablet (expected January 27) resembles that of Moses bringing down the 10 Commandments. Despite high expectations, we believe that Apple plans to redefine portable computing--as the Mac redefined the PC--by 'creating' desire for a new converged portable device with innovative touch/gestures [and] iTunes content. A 'hit' could provide a possible new growth engine for Apple", Mr. Abramsky noted.