Apple is speculated to roll out a new Apple TV within the next several months, according to Piper Jaffray analyst Gene Munster.

In July's Q3 results call, COO Tim Cook stated that Apple would continue to invest in the Apple TV, Munster points out in a research note to clients.

According to Muster, Apple has strong incentive to build a new set-top if it decides to offer a subscription service for iTunes video.

He believes Apple may sigh content deals with networks to provideunlimited access to TV shows, at a cost of roughly $30 or $40 per month. A package like this would compete with both online services like Hulu, but also DVD rental companies like Netflix and even cable subscriptions.

Munster suggests Apple is interested in building a full-scale TV set, though its release might not happen for two to five years.

Apple is strongly rumored to be working on one or more tablet computers which are set to be unveiled on September 9.