“Gene Munster with Piper Jaffray issued a note to investors on Wednesday tackling the possibility of wearable computers in Apple’s future,” Neil Hughes reports for AppleInsider. “The note was issued in response to an unlikely rumor that claimed Apple is working with Intel to build a ‘smart watch’ accessory that would tap into high-end iPhone functions including voice calls.”

“Munster doesn’t see a hypothetical Apple watch debuting any sooner than 2014, but he does believe that wearable computers could replace the iPhone and smartphones in general over the next 10-plus years,” Hughes reports. “These devices could eventually prove to be cheaper to manufacture than the iPhone, Munster believes, which could prove to be the company’s ‘best answer to addressing emerging markets.'”

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