“Investors gave Apple a slap on the wrist Tuesday, a day after the company detailed its upcoming Apple Watch release,” Patrick Seitz reports for Investor’s Business Daily.
“Apple stock was down more than 2% in early afternoon trading on the stock market today,” Seitz reports. “Apple revealed pricing and applications for the Apple Watch, which will launch on April 24 in nine countries, with models ranging from $349 to $17,000.”
“Pacific Crest Securities analyst Andy Hargreaves said the Apple Watch is the world’s best smartwatch, but questioned if the world actually wants smartwatches,” Seitz reports. “‘The Watch’s primary functional value seems to be the convenience of being able to do certain tasks without taking your phone out of your pocket,’ Hargreaves said. ‘This is nice, but does not appear game-changing since people are likely to continue carrying iPhones for the foreseeable future.'”
Read more in the full article here.
MacDailyNews Take: Yes, Apple Watch allows wearers to do certain tasks without taking their iPhone out of their pocket – thereby saving significant amounts of time during a normal day. Watch and see.
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