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Getting In On The Apple Watch Buzz, Without Investing In Apple

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Getting In On The Apple Watch Buzz, Without Investing In Apple

The time has finally come for Apple Inc. (NASDAQ: AAPL) to prove itself once again as a leader in the development of new technology.

The company is expected to reveal its iWatch on Monday at the company's "Spring Forward" event in San Francisco.

Investors are eager to see if the watch will do for wearables what the iPhone did for smartphones by living up to the year-long hype around its release.

Morgan Stanley has estimated that Apple will sell around 30 million watches in the first year, but its steep $349-plus price tag could prevent widespread adoption.

The Tech Behind The Watch

While Apple itself is the obvious choice for investors who believe that the iWatch will be a hit, many are looking behind the scenes in order to profit from the watch's release.

Universal Display Corporation (NASDAQ: OLED) is one such company and saw a 13 percent rise last week in the lead-up to Apple's event. The company created the OLED screen technology to be used on the watches and is rumored to become a direct supplier for Apple's subsequent watch models.

InvenSense Inc (NYSE: INVN) created the motion-sensor technology used in both the iPhone and the iWatch. Since a huge part of the watch's functionality is expected to revolve around the accuracy and reliability of motion tracking, InvenSense could be a smart play as the demand for motion sensing technology rises.

Related Link: Apple Watch Price Predictions

Apple Watch Success A Win-Win

Companies like Jawbone and FitBit that already have wearable devices on the market are also hoping that Apple's watch will be a hit among consumers. Because the watch comes at a very high-end price, companies offering cheaper models will benefit from a growing interest in the wearables space.

The Apple watch's success would boost public interest in health and fitness tracking; and those who are not willing to shell out $350 will be looking to Apple competitors for a cheaper option.

Posted-In: Apple Watch Fitbit iWatchNews Events Top Stories Tech Trading Ideas Best of Benzinga

 

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