Apple's iWatch Will Be A $17.5 Billion Business After 12 Months, Says Morgan Stanley

Morgan Stanley analyst Katy Huberty is out with a very bullish forecast for Apple's iWatch.

Huberty is predicting Apple does $17.5 billion in iWatch sales after the first twelve months it's on the market.

The iWatch is just a rumor for now, so these projections are subject to change, we suppose.

She's basing her call on sales of the iPhone and iPad. As you can see in this chart, each new Apple product has sold faster than the product that came before it. She thinks that the iWatch will sell faster than the iPad.

Huberty notes that a lot more people own Apple products today than when the iPad launched: "The company reported 575M iTunes/App Store accounts as of June 2013 compared to approximately 120M accounts when the iPad launched."