The most accurate Apple analyst in the world just slashed Apple Watch estimates due to weak demand
LISA EADICICCO
May 20, 2015, 22:09 IST
Business Insider / Steve Kovach
KGI Securities, which usually makes accurate predictions around Apple's current and upcoming products, just cut its predictions for Apple Watch shipments this year, according to 9to5Mac.
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.
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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 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.
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