The long-rumored Apple iWatch might actually be quite a success in its first year on store shelves, data from Morgan Stanley analyst Katy Huberty shows. Apple will price the iWatch at $300 and sell between 30 million and 60 million units in its first year on store shelves, Huberty wrote in a research report to investors on Monday. The report, which was earlier obtained by Fortune, also acknowledges that there's a chance the iWatch will fail. But Huberty believes those chances are somewhat slim. Her "base case" puts Apple's sales at 30 million units, with 60 million acting as a best-case scenario for the company. Rumors have been swirling for well over a year that Apple is working on an iWatch to take on other wearable devices. Apple, of course, hasn't confirmed that's the case, but nearly every report and rumor suggests the device will be launching sometime this year.