“Not wild about the Apple Watch’s potential?” Fred Imbert reports for CNBC. “Neither is JPMorgan.”
“Analysts at the investment bank slashed their Apple Watch estimates for fiscal 2016 to 11.9 million unit shipments from 23.5 million, adding they see the wearable only penetrating 7 percent ‘of its addressable base by the end of 2017 vs. previous assumption of 15%,’ Imbert reports. “Rod Hall, one of JPMorgan’s analysts, told CNBC’s Fast Money: Halftime Report on Thursday that ‘we’ve seen demand weakness on that watch below what we had anticipated. We think it’s a great product; it’s just that the traction for these watches, people still haven’t figured out what they want to use them for.'”
Imbert reports, “JPMorgan released a note to clients Thursday lowering its Watch estimates, as well as its price target on Apple shares, to $105 from $125.”
Read more in the full article here.
MacDailyNews Take: This too shall pass.
SEE ALSO:
Apple watched how we actually used our Apple Watches and adapted watchOS to fit – June 16, 2016
Apple reveals watchOS 3; faster, simpler with breakthrough health features – June 13, 2016
Apple Watch: Why let facts cloud the debate? – June 6, 2016
I went to the Apple Store this week to buy a watch for myself and they only had 4 sport versions left in stock in the 42mm size. 3 in the 38mm. None of which I was interested in. The lady talking with me said the watches sell out as fast as they get them in.
How about that! Apple can’t keep enough AppleWatches in stock. Tim Cook must be beside himself withholding these sales data. Poor fellow must have to be sedated.
As result of news from the rumour supply chain, AlanAudio has slashed his estimates of analyst’s plausibility from 0% to a new low of -10%. The bullshit index has risen marginally from 98.3% to a new high of 99.72%.
Apple stock getting hammered yet again today. It’s been a real bloodbath as investors are once again, “relentlessly liquidating” their positions in Apple stock.
You’d of course do us all a favor if you’d liquidate your trolling, Birdbrain. But you live for self-abuse, don’t you, little ‘bitch’.
I think you’ve worn out this month’s anonymous coward nick.
You’re welcome.
Analysts blamed iPad slow sale now they switching to Apple Watch, In the future, they will blame for Apple car. Then they complained that Apple has so much cash. Bunch of pathetic psycho.
Just bought an Apple Sport Space grey Watch yesterday and already love it. Does anyone have any suggestions for the “best” screen protector? I’ve seen a lot of chatter regarding the Sport screen being susceptible to scratches…
So JPMporgan knows some numbers Apple isn t reveiling.
And, from what they are saying, they lost all my confidence in them. They might be too old and have friends in the tech business…
What a crook world.
Not wild about JPMorgan? Good for you!
JPMorgan’s $12 Billion Bailout
Isn’t it interesting that Apple never asked for or needed corporate welfare!