The most accurate Apple analyst in the world just slashed Apple Watch estimates due to weak demand
The firm cut its outlook due to slow demand for the Apple Watch, the report says.
KGI Securities now predicts that Apple will ship between five and six million watches in the third quarter of 2015. Apple is predicted to ship 15 million Apple Watches this year, which the 9to5Mac report says is half KGI's previous estimates.
KGI believes that Apple Watch units produced in Q2 are keeping up with current demand, and the report notes that more people seem to be buying the 42mm size option rather than the 38mm model.
KGI's predictions come just after Apple CEO Tim Cook reportedly told employees that the Apple Watch will be available to purchase in stores next month, as 9to5Mac's Mark Gurman reported this week. Currently, you can only order the watch online.
KGI Securities is known for making predictions that are right in line with Apple's product roadmap - mostly because one of its analysts, Ming-Chi Kuo, seems to be really plugged in to Apple's supply chain. Kuo has previously made correct predictions about the iPhone 6, Apple Watch, and iPhone 5.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 2024 LS polls pegged as costliest ever, expenditure may touch ₹1.35 lakh crore: Expert
- 10 Best things to do in India for tourists
- 19,000 school job losers likely to be eligible recruits: Bengal SSC
- Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund