Apple share price: Company unveils Watch details, prices

on Mar 10, 2015
Updated: Oct 21, 2019
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Apple Inc (NASDAQ:AAPL), the world’s largest technology company, has launched its long-anticipated smartwatch device, marking its first foray into wearable technology. The Cupertino-based tech giant made the announcement at a special event in San Francisco, where it unveiled more details about the product and said that it would be available for pre-order on April 10 and in stores two weeks later.
A new thinner and lighter MacBook and a TV partnership with HBO were also unveiled, but the centrepiece of the event was the Apple Watch – Apple’s first new product since the original iPad. The company revealed the price points of the device’s different models: the entry level Apple Watch sport will start at $349 for the smaller, 38-mm model; the standard Apple Watch model will start at $549, while the luxury “Edition” watch will cost from $10,000 to $17,000, depending on the particular model.

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While, analysts and investors in general favoured the Apple Watch’s prospect of selling millions of units to Apple fans, some questioned whether the device had a “killer app” to help it reach a wider audience. Reuters quoted Daniel Morgan, senior portfolio manager at Synovus Trust Company, as observing:
“I think there’s a niche market for these kind of Apple tech people who love Apple and will buy anything they come out with. But I just don’t know if it’s going to be the power product that everyone’s looking for.”

Other analysts were more bullish. Cantor Fitzgerald said that the Apple Watch would become “the best selling, new product category (in first 12 months of availability) in Apple’s history”. The firm forecast that the device would sell 20.6 million in its first year on the market. Citi’s sales estimate was also in that range. Meanwhile, Deutsche Bank suggested the watch’s 18-hour battery life could be a limiting factor and that the high prices on the high-end and mid-range models would drive customers to the lower-end devices.
In yesterday’s trading, Apple shares closed up 0.4 percent at $127.14. The stock has risen 15.2 percent since the start of the year, boosting the company’s market capitalisation to $737.4 billion.
According to the Financial Times, the 41 analysts offering 12 month price targets for Apple have a median target of $140.00, with a high estimate of $160.00 and a low estimate of $60.00. As of March 07, 2015, the consensus forecast amongst 53 polled investment analysts covering Apple has it that the company will outperform the market. This stance has been maintained since the sentiment of investment analysts deteriorated on September 29, 2011, the FT notes.
As of 15:20 GMT, Tuesday, 10 March, Apple Inc. share price is $125.04.

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