“Piper Jaffray’s Gene Munster this morning reiterates an Overweight rating on Apple, and a $160 price target, writing that ‘we believe investors may begin to focus on [Apple Watch’s] opening weekend metrics,'” Tiernan Ray reports for Barron’s.
“But tracking initial sales of Apple Watch is not like opening-weekend sales of the iPhone or iPad, because the Watch is going to be included in the ‘Other’ category of revenue, Apple has said,” Ray reports. “And so the company ‘may or may not release opening-weekend sales figures.'”
“Munster is projecting Apple will sell 300,000 pre-orders in the first 24 hours and 1 million units in the first weekend,” Ray reports. “On CNBC‘s ‘Squawk Alley’ this morning, Munster discussed his report, saying it was ‘the most mysterious’ product debut ever perhaps for Apple. ‘This first wave is mostly the fanboys,’ said Munster of initial sales.”
Read more in the full article here.
MacDailyNews Take: What do you think, is Gene to low, too high, or just about right?
[Thanks to MacDailyNews Readers “Fred Mertz” and “Edward W.” for the heads up.]