Apple Users Awaiting Release Of Watch 2 Before Purchase, Study Finds

Apple Inc. may have already captured a vast majority of the smart wearable device market with its watch, but analysts at Mizuho Securities said the company won't start to see real revenue gains from this emerging category until at least the second-generation watch is released. A survey produced by the brokerage indicates people - mostly iOS users -- are interested in buying a watch, but are awaiting Apple Watch 2 before purchase. "We might need to go through couple of iterations before smart watch adoption broadens," the analysts said. The analysts maintained a neutral rating and $125 price target on the stock, which implies a 15% increase from Tuesday's closing price. Shares of Apple recently traded up 0.8% to $109.90, but they have slid 13% over the last three months, underperforming the 9% decline for the broader Dow Jones Industrial Average.

Copyright © 2015 MarketWatch, Inc.