In an extensive research note covering Apple's product roadmap for 2014, KGI Securities Ming Chi Kuo reiterated expectations that Apple is working on a ultra slim 12" MacBook Air but also revealed a new low-cost iMac in the works.

Kuo's predictions for the 12" MacBook Air match what was leaked in March from a reliable Chinese forum source. The new 12" MacBook Air will "redefine notebook user experience":

- Thinner than current models

- No fan

- Buttonless trackpad

- Higher resolution Display

Kuo first predicted this ultra thin 12" MacBook Air late last year.

We expect the unprecedented 12” model will boast both the portability of the 11” model, and productivity of the 13” model. The high resolution display will also offer the outstanding visual experience of the Retina MacBook Pro. The offering will likely be lighter and slimmer than the existing MacBook Air to further highlight ease of portability in the cloud computing era. We think the form factor will showcase a much improved clamshell structure, and that it will redefine laptop computing once again following the milestone created by the MacBook Air.

Besides the 12" MacBook Air, Kuo reiterates his earlier claim that a "low-priced" version of the iMac is coming. The new model will help compete with companies such as HP and Lenovo as well as grow market share in Asia.

The 12" MacBook Air is not expected until late 2014, while the low-cost iMac may come mid-year.