Apple To Sell 1 Million Apple Watch Units In First Weekend

With Apple Watch preorders just 10 days away, forecasts are starting to roll in on how many wearable devices Apple Inc. sells in its first weekend. The company may sell 300,000 pre-orders in the first 24 hours and 1 million Apple Watch units in its opening weekend, according to a forecast issued Wednesday by PiperJaffray analyst Gene Munster. That would put Apple on track to sell as many as 2.3 million units of the Watch in the June quarter, according to Munster, who maintained his overweight rating and $160 price target on the stock. Shares of Apple fell 0.8% to $123.44 in recent trade. They are up 59.5% over the last 12 months, compared with a 6.5% improvement for the broader Dow Jones Industrial Average. One million Apple Watch sales would imply an attach rate, or the amount of watches sold compared with total iPhone users, of less than 1%.

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