Gene Munster Predicts Big Weekend For Apple Watch

Piper Jaffrey analyst Gene Munster told CNBC that Apple Inc. AAPL would sell one million Apple Watches in its opening weekend.

Munster said that the firm had surveyed approximately 10,000 people to assess interest in purchasing the new Apple Watch.

Five to 7 percent of iPhone owners surveyed said they would purchase the Watch and that based on past iPhone 6 sales, the firm estimated one million units would be sold at its release.

Munster felt that in a year, the Watch would "go vertical" in terms of sales as new apps are introduced for the device.

With negativity surrounding the Watch from investors, Munster felt there was a good setup for owning the stock at this time.

Shares of Apple closed at $124.25 Wednesday, down 0.14 percent.