Gene Munster, investment analyst for Piper Jaffray, believes Apple will release a low-cost tablet PC in 2010. He writes this in a letter sent out to its clients. He based his information on a confirmation from people in the loop with Apple’s product plans.

“We expect Apple to fill the gap between the iPod touch and the MacBook with a new tablet device (not a netbook) priced at about $500-$700. Apple will likely leverage its multi-touch patents to differentiate its product from the typical netbook,”

New pictures of the Apple tablet PC have appeared online:

Renderings courtesy of Factory Joe