Munster: Apple iWatch More Than Likely in 2014
In a recent note to investors, Piper Jaffray analyst Gene Munster weighed in on the likelihood of seeing an iWatch in 2014 and the potential impact that this product would have on Apple’s (NASDAQ:AAPL) bottom line. There have been persistent rumors about an Apple wearable tech product ever since a Chinese supply chain source suggested that the Cupertino-based company was interested in a developing a smartwatch last year.
In order to gauge demand for this long-rumored Apple product, Piper Jaffray conducted a survey of 799 U.S. consumers. Based on the results of that survey, Munster believes that Apple would sell 5 million to 10 million iWatches during the first year of its availability.
Munster noted that this is a 2 to 4 percent penetration of an estimated international iPhone user base of around 293 million. Although 12 percent of surveyed iPhone owners in the U.S. said that they were interested in purchasing an iWatch, Munster believes that the percentage of actual buyers would be lower since consumers in the U.S. are typically wealthier than many international iPhone owners.