“UBS’s Steve Milunovich today reiterates a Buy rating on Apple (AAPL) stock, and a $125 price target, writing that the company’s about to ‘redefine another category,’ with its Apple Watch, and consumer data his firm gathered showed Apple having stronger prospects than Samsung Electronics in a big prospective market, China,” Tiernan Ray reports for Barron’s.
“Milunovich notes the market is small: industry research firm Smartwatch Group says the category sold just 3 million units last year, for a total haul of $700 million,” Ray reports. “Samsung Electeonics led the group with 34% market share for devices such as the ‘Galaxy Gear,’ of which it may have sold 800,000 units.”
“Most buyers, he notes, had a watch, about 70% of those responding,” Ray reports. “On average, they planned to buy one watch at some point in the next two years. He observes that Chinese consumers seemed to be the most eager respondents in terms of buying intention.”
Read more in the full article here.
MacDailyNews Take: The other day, we actually saw some guy with a Galaxy Gear on his wrist. We’ve seen plenty of rocks that looked smarter than both.