“Watch out, watchmakers: The Apple Watch threat is ‘becoming real,’ says one analyst,” Elaine Low reports for Investor’s Business Daily.
“Sterne Agee CRT’s analyst Ike Boruchow lowered his price target on Fossil to 82 from 85, noting that the domestic watch market is softening and Apple Watch’s strong first-day showing mean adoption rates ‘could be on the rise,'” Low reports. “More than a million pre-orders for the Apple smartwatch rolled in on its first day of availability. This signals ‘very strong initial demand’ that could eat into Fossil’s share, said Boruchow.”
Low reports, “‘We estimate that FOSL sells only 30-35 million watch units annually, so a relatively low attachment rate for the Apple Watch can result in significant cannibalization of FOSL’s fashion-watch business,’ he said.”
Read more in the full article here.
Fossil is soon to discover just how aptly they’re named. – MacDailyNews, November 13, 2014
The Apple Watch’s beautiful face is also its fatal flaw – says Fossil exec – March 6, 2015
Enjoy it while it lasts, Fossil – Apple Watch looms – November 13, 2014
Barclays: Apple Watch could crush companies like Fossil – September 16, 2014