Analyst says new Apple TV sells well

Projects $99 device will sell 1 million-plus units a quarter

The recently relaunched Apple TV device, which costs only $99, seems to be "resonating with consumers," Barron's on Wednesday cited a Wall Street analyst as saying.

JMP Research analyst Alex Gauna said the device continues to sell out in many stores around the country after its launch last week. He checked with more than 20 stores and asked online representatives.

Gauna projects that Apple TV could sell 1 million or more devices a quarter. That would be at least a quarter or a third of the sales pace of the iPad.

Entertainment executives have been divided over a 99 cents TV show rental service that Apple unveiled along with the new Apple TV device.
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