In his very recent research note, PiperJaffray analyst Gene Munster said that, in what can be termed as a "wildcard" possibility, Apple's annual media event scheduled for September 9 might just see the company debuting an AppleTV update or refresh.

Saying that the Apple online store having a 'wait time' of a couple of weeks for the $299-priced 40GB model, is a pointer that the upgrade announcement might feature at the forthcoming Apple event - all the more so because this apparently is the first-of-its-kind delay for the Apple TV ever since its March 2007 launch.

Munster remarked: "We believe the company is most likely phasing out the 40GB model and possibly reducing the price of the 160GB model, but a new model is possible given the hardware has been the same for 2+ years."

Munster also hinted that Apple is likely intending to sell out all its left over inventory of the mentioned model before it announces the launch of a new product.

Munster, who some weeks back had said that Apple is developing a new Apple TV with iTunes show subscriptions and possibly DVR capabilities, ruled out the possibility of a major upgrade to the Apple TV, and said that such an announcement would possibly come in concurrence with a subscription service, requiring negotiations with content providers.