Is Apple Inc. (NASDAQ:AAPL)’s wearable, the Apple Watch, just a toy at the moment or is it a must-have for a majority of people?
According to Michael Wolf, it’s the former. In an interview on Bloomberg Surveillance, the Activate co-founder tells The Points Guy Founder and Editor-In-Chief Brian Kelly and Bloomberg hosts Brendan Greeley, Tom Keene and Olivia Sterns that Apple Inc. (NASDAQ:AAPL)’s smartwatch still has narrow use today even if many people will buy the device.
“No, it is neither,” Wolf says when asked whether the Apple Watch is a groundbreaking device such as the iPad or iPod. “What it is, it’s an accessory, because it still requires [an iPhone] so it still requires that you have a phone in your pocket. I think that there will be a lot of people who are going to buy them. Apple estimates about 17 million people will buy one but I’m not sure everyone is going to use it and there are a lot of useful things to do with it but it’s not going to be a must have right now.”
Furthermore, Wolf also tells the Bloomberg panel and his fellow guest that he is not sure whether Apple Inc. (NASDAQ:AAPL)’s wearable will take off once it does not need to be tethered to an iPhone anymore. Greeley says that he has read a lot of reviews of the Apple Watch and all of them criticize the fact that it still needs an iPhone to work.
According to Wolf, whether the Apple Watch will be more of a success when it can stand alone as a device is unclear since the world is moving to bigger screens. He notes that the iPhone 6 and iPhone 6 Plus have been very popular with people because they are bigger than their predecessors and now on par with competition from Samsung Electronics in terms of screen size.
Apple Inc. (NASDAQ:AAPL) revealed that in the first quarter of fiscal year 2015, the three months leading to December 2014 and the first quarter the latest iPhones were available, they sold a record-setting 74.5 million iPhones.
“We’re not sure whether or not something that is on your wrist is really going to take the place of that larger screen. Yes, there is a lot of support from the tech community. Apple announced that there are now 3,000 apps that will be available on launch, but that does not necessarily mean that this is going to be central to people’s lives,” Wolf tells Bloomberg.
Ken Fisher’s Fisher Asset Management owned about 10.76 million Apple Inc. (NASDAQ:AAPL) shares by the end of the last quarter of last 2014.
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