The iPad Pro is Apple’s largest and one of the priciest tablets that the company possesses and it is also the first one that has been built under a professional use concept.

Analysts are forecasting that the certain product will increase Apple’s annuity by as much as $2.4 billion.

RBC Capital Markets analysts led by Amit Daryanani, set out a new base case forecast, in a note that was published on Tuesday, which estimates that Apple shares could reach $150 over the next 12 months, while the bear case is for $109 and the bull case sees them at a stodgy $165.

“In the current environment with US$200 billion-plus in cash, we believe the stock is undervalued at these levels. From a product perspective, we believe the company can continue to gain share in both the tablet and smartphone space. In our view, the smartphone space is currently a two-horse race where Apple will be one of the winners in continuing to gain market share.”

MUST READ: Apple (NASDAQ: AAPL) Stock Review THIS WEEK

The analysts’ forecast has got a pretty solid ground base which you can spot, if you take under consideration that some other expert analysts estimate a $200 profit for Apple on every iPad Pro unit sold. And given that Apple expects to sell three million units of the tablet, the iPad Pro could ultimately earn the company $600 million in profit on the back of $2.4 billion in revenue.

Of course, all that is just an estimation forecasted by expert analysts, hence none of the above should be considered as a fact yet. Though, the likelihood of things turning out to be as predicted get closer to reality with each iPad Pro unit that is being taken off the shelve.

The outcome will be notable in figures and public sheets in a few quarters from now so, essentially, it’s a matter of time whatsoever. Until then, stay tuned to read all the latest updates.