Apple Watch Could Take Half Of The $200-plus Watch Market, Spelling Trouble For Fossil, Movado

NEW YORK – Despite mixed reviews of Apple Inc.'s Apple Watch, the smart watch could cause "significant" level of disruption to traditional fashion watch makers including Fossil Group Inc. and Movado Group Inc. , said KeyBanc analyst Edward Yruma. Apple could sell over 20 million Apple Watches this year, which would be nearly half of the total $200-plus watch market, Yruma said. "Both Apple's and investors' expectations are for Apple to either decimate the watch market or expand it by nearly 50% in the first year," he said. "Pre-orders suggest strong demand among the core customer base." Apple Watch's entry comes as fashion watch sales have slowed. Yruma cut his profit estimate on Fossil for this year to $5.46 a share from $5.74 a share and to $1.92 from $2 a share for Movado. Fossil fell 3% in early Monday trading. Movado dipped less than 1%

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