When it comes to discussing the latest news and rumors regarding Apple Inc. (NASDAQ:AAPL), Piper Jaffray analyst Gene Munster always has something exciting and insightful to bring to the table.

Earlier today, we posted an article - Gene Munster Predicts New Apple Inc. Products for 2013 – with Munster giving some insight on what the new year may bring for the tech giant.

With rumors swirling about the possible addition of a low-cost Apple Inc. (NASDAQ:AAPL) iPhone, it is only natural for Munster to get in on the action.

Apple Inc. (NASDAQ:AAPL) Press Info

And that is exactly what he did earlier today in a note to investors, as published by AppleInsider:

"We believe that the high-end smartphone market (above $400 USD off contract) for [calendar year 2013] will be about 320 million units, of which we believe Apple will capture 50% market share.”

"We believe this means Apple is missing the other 65% of the market, or 580 million units, given its current product lineup without the lower priced phone."

Take a closer look at what he is saying. Munster believes that Apple is currently leaving a lot of money on the table due to the lack of a lower priced option.

What about reduced margins that would accompany a low end iPhone? Is this something Munster is concerned with? Not exactly: