Apple share price: Consumers support Watch’s fashion focus

on Dec 9, 2014
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iNVEZZ.com, Tuesday, December 9: Consumers are willing to pay a premiumfor Apple Inc’s (NASDAQ:AAPL) upcoming smartwatch, underpinning the company’s decision to position the device as a fashion item, a recent report by Mashable has suggested. The technology blog cited a new survey, according to which, the Apple Watch is poised to appeal to women in particular.

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Jim Shea, chief marketing officer of First Insight, the firm that conducted the survey last month, told Mashable: “We were very surprised to find that women not only loved the Apple Watch — they were actually willing to pay nearly $50 more than market price for the Apple watch when buying it for themselves.”Shea continued: “[It] appears Apple has an opportunity to create a smartwatch specifically designed to appeal to women, and charge even more for it.”
Apple has been signalling for a while now that it envisions the device as a fashion accessory rather than just another tech gadget. According to the most recent rumours, the company is looking to add fashion experts to its retail stores ahead of the watch’s launch.
Apple-focused blog 9to5Mac yesterday cited internal hiring documents it had obtained, according to which, the Cupertino-based company is recruiting retail candidates this month with“a fashion or luxury background”. The blog suggested that the company was preparing to deliver changes to its retail stores in time for the Apple Watch’s early 2015 debut. The retail stores unit is led by Angela Ahrendts, former chief executive of Burberry, who Apple hired earlier this year.
In yesterday’s trading Apple shares closed 2.3 percent lower at $112.40. According to the Financial Times, the 42 analysts offering 12 month price targets for Apple have a median target of $121.00, with a high estimate of $150.00 and a low estimate of $60.00. The current consensus forecast suggests that the company will outperform the market.

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