UBS Sees Apple Inc. Shipping 24M Watches In FY15, 40M In FY16

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UBS's Steven Milunovich Tuesday offered up some unit forecasts for
Apple Inc.'sAAPL
new Watch and also for the iPhone. Milunovich set his initial FY15 shipment target for the Watch at 24 million units; his FY16 estimate is a jaw-dropping nearly 67 percent higher at 40 million units. The UBS analyst's sales figures for the Watch account for about one third of his FY15 sales estimate for Apple as a whole. Also in the note, Milunovich said total iPhone shipments could hit the 100 million unit level during the second half of 2014. The analyst maintains a Buy rating and $115 price target on shares of Apple. With Apple Inc. shares trading down nearly 0.7 percent to $100.96 at last check, Milunovich's maintained price target implies potential upside of about 14 percent.
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