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Rumors of the existence of such a device have gathered pace over the last few weeks, with reports claiming Apple had a 100-people strong team working on the project and that manufacturing partner Foxconn was already involved in discussions.
Morgan Stanley analyst Katy Huberty wrote in a note to clients a few days ago that a smart watch would generate between $10 billion and $15 billion in annual revenue for Apple, which will yield between $2.50 and $4 in yearly profit per share.
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