RBC claims Apple Inc (NASDAQ: AAPL) may sell 20 million watches in one year, according to Bloomberg. The firm reiterated its Outperform rating and raised it price target from $115 to $120.
RBC analyst Amit Daryanani felt that a conservative estimate may add approximately $6.5 billion in annual revenue to FY 2015.
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The watch is anticipated to go on sale in March of 2015 and Daryanani estimated 10 percent penetration for existing iPhone sales.
The report also indicated that Apple may also benefit from iPhone 6s and lager iPad demand.
Apple Inc. recently traded at $114.43, up 0.22 percent.
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