Analyst predicts one terabyte iPod

Imagine a one terabyte iPod that holds hundreds of movies and thousands of songs and photos. Piper Jaffray analyst Gene Munster predicts that and more in a recent research report speculating on Apple's plans for future products. He writes that the terabyte iPod could be released within five years at a price point of around $500.

Munster predictions for Apple products in the nearer future–within 12 to 24 months–are just as exciting. He expects that Apple will release its own iPhone, and that the company will act as a mobile operator, buying mobile network access from traditional carriers and reselling it to its customers. He also thinks that Apple will enable wireless download of music and video to users' iPods within the 12 to 24 month time frame.

Munster believes Apple is positioning itself as the consumer hub for digital media. He predicts that future Macs will have Tivo-like DVR capability and improved media center apps, and he foresees iPods acting as portable digital media centers.

What do you think? Good predictions or too much smoke in that crystal ball?