“Anticipating huge demand for the Apple iPad mini – a device that the company has yet to announce – Pacific Crest analyst Andy Hargreaves today upped his EPS forecast for the September 2013 fiscal year to $55 a share from $53,” Eric Savitz reports for Forbes.

“The analyst thinks Apple can sell 35 million iPad minis in fiscal 2013 at $299, with 25% cannibalization of the larger version of the tablet,” Savitz reports. “He adds that a lower level of cannibalization – or a higher average selling price – could drive his estimates higher still.”

Savitz reports, “I would note that this scenario suggests incremental revenues of more than $10 billion – this for a product that no one is certain actually exists. Apple never ceases to amaze.”

Read more in the full article here.