Apple hasn't officially announced the iWatch yet, but analysts and tech super fans alike are already taking guesses as to exactly how it will work, what it will look like, and now, what it will cost. UBS has come out with sales predictions for the non-existent iWatch. 

UBS analyst Steven Milunovich told investors today that the projected average selling price for iWatch is $300. UBS predicts iWatch would follow the iPad sales trajectory, selling 21 million units in the 2015 fiscal year and 36 million in 2016. The rumored launch date for iWatch remains October 2014

With these kinds of projected sales figures, Milunovich predicts it could push Apple product margins around 25 percent, increasing to the low 30s in a few quarters. Overall, Milunovich predicts iWatch would add $6.5 billion in revenue to fiscal year 2015 and $11 billion in revenue to 2016. 

In an UBS memo obtained by Apple Insider, he writes:

We are more confident that Apple will be introducing the iWatch before the holiday season following WWDC's introduction of HealthKit, recent healthcare hirings, the acquisition of LuxVue Technology, and positive comments from Eddy Cue at the Re/Code Conference." 

Here's more analysis from the insider's memo:

UBS had a $700 twelve-month target price for Apple, and regardless of iWatch and the 7-for-1 stock split, they maintain their target at $100. 

So, in the event Apple makes the thing everyone wants them to make, they're going to profit extremely well from it.