Apple’s much-awaited ‘Apple Watch’ will play a major role in driving Cupertino’s 2015 growth, an analyst claims.
Rob Cihra, managing director and tech hardware analyst at advisory firm Evercore Partners, in a note to investors on Monday, said he believes that the Apple Watch will account for around 36 percent of Apple’s growth and an estimated 4 percent of the company’s overall revenue in 2015.
Cihra stated that the iPhone will account for a major portion of Apple’s 2015 growth, representing around 60 percent revenue share. But he said he believes the Apple Watch will be a hit right out of the door, helping boost Apple’s price to earnings ratio this year, notes Apple Insider.
Cihra said he expects the watch will launch around March, achieving an average selling price of $500, with an estimated 18.5 million shipments to be made this year, and an additional 22.9 million in calendar 2016. His estimated sales figures give Apple Watch a 5 percent attach rate based on the current iPhone install base.
Based on the report, Evercore has reiterated its “buy” recommendation for AAPL, with a price target of $135.
