Apple Watch sales could reach 6 million units for quarter ended December 31
FBR Capital Markets analyst Daniel Ives stated that Apple Watch sales may reach 6 million units in the quarter ended December 31, 2015. This would be more than the initial estimated sales of 6 million units for the product’s first year.
Although Apple (AAPL) hasn’t revealed its sales figures, it did state that sales have been growing, with revenues of at least $1.7 billion in the first five months for this business segment. In July 2015, Apple said that the Apple Watch had outsold the first-generation iPad during its first nine weeks. Apple sold approximately 3 million iPads in that period.
Apple Watch is an important business segment
Most of Apple’s revenues are generated by the iPhone. But the Apple Watch is set to become an important business segment. Ives estimates the Apple Watch to increase market share in the $20 billion market for wearable devices. “We continue to view the Apple Watch as a potential door opener for wearable technology across the board, as this next paradigm shift is likely set to take place across the consumer/enterprise landscape,” Ives wrote.
In the above graph, we can see that Apple has a 19% share in the wearables market. Fitbit (FIT) has a market share of 22%. It’s important to note that Fitbit and Garmin (GRMN) both lost market share over the last year.
Apple constitutes 8% of the iShares S&P GSTI Technology ETF (IGM).
On December 14, 2015, Morgan Stanley (MS) lowered Apple's (AAPL) fiscal 2016 iPhone units by 12% and its EPS by 6%.
Yum! Brands (YUM) is set to report its first-quarter earnings before the market opens on May 1.
Merchant power player NRG Energy (NRG) is slated to report its first-quarter earnings on May 2. According to consensus estimates, NRG will report earnings of $0.56 per share for the quarter, which ended on March 31.
Fortinet (FTNT) is scheduled to announce its first-quarter results on May 2.
AK Steel (AKS) is scheduled to release its first-quarter earnings on April 29 after the markets close. The company is to hold its earnings call on April 30.
Apple (AAPL) is scheduled to release its second quarter of fiscal 2019 results on April 30 after markets close.
Clorox (CLX) stock was trading flat on a year-to-date basis as of April 24, and it has underperformed the broader markets as well as its peers.