Cantor Fitzgerald: Apple Watch Will Be Biggest Product Launch In Company's History
Even after having a super holiday season sales, shares of Apple Inc. (NASDAQ: AAPL) have witnessed significant declines. However, Cantor Fitzgerald analyst Brian White thinks that the going will be great for Apple in 2015, especially after the Apple Watch release.
White was on CNBC to discuss the outlook for Apple this year and the sales of the Apple Watch.
"I think it's still very early in this product cycle," White said. "So, we have called this a super cycle. We started off with iPhone 6 and iPhone 6 Plus that got them into the phablet market and we haven’t released the Apple Watch yet and so, every four to five years you get a new product category and that’s very exciting. That's good for the shares, that's good for the income statement and I think we are just getting started with that. So, anytime we get a pullback like this, we want to be buyers of Apple shares."
How Big Could The Watch Be?
"A lot of times at first there is shortages of Apple products. I think it will be more important from a sentiment standpoint to get a new product out there, category, to get people excited about something new at Apple and I expect the marketing campaign to be massive. So, we have said, we think this can be the biggest product in Apple in history in the first year. iPad sold 19.5 million units in the first year. We think Apple Watch will surpass that," White replied.
When asked if Apple is willing to sell more than 20 million watches in 2015 even if there is demand for it, "I think they want to. I think, at first they may not have all the volume they want, but I do think as the year progresses there will be enough volume to hit that target."
Shares of Apple closed Wednesday at $107.75; shares were up more than 1 percent in Thursday's premarket.
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