UPDATE: Readers report that their Apple TV order is now shipping.

Many reports on the Internet point out that the Apple TV will probably start shipping and will be available in stores on Tuesday.

Some readers who have ordered Apple's new product also confirmed that their order will ship tomorrow or later this week while their credit card has already been charged for the order.

Last week Apple issued an update to iTunes and QuickTime bringing support for the Apple TV on both applications. iTunes now recognizes the iTV as a compatible device similarly to an iPod while QuickTime can now export to the Apple TV 720p H.264 format.

The company initially announced that the Apple TV would ship in February but the release of this product was finally delayed to March.

Analysts have high hopes on the success of the iTunes-Apple TV combination with some of them expecting as many as two million devices to be sold in 2007 and 4 million in 2008 representing a similar success and impact in the cinema industry as the iPod did with the music industry.