Analyst gives Apple a deadline for the iWatch... or else
It is an extremely weird time for Apple analysts right now. With the announcement of Android Wear, Apple itself may not be all that shaken, but the analysts who make their living talking about Apple are definitely having strange reactions. We saw earlier that one analyst doesn't even believe that the iWatch is real, and if he is right, there is another analyst forecasting doom.
Now, we know that analysts are prone to bouts of hyperbole, but Global Equities Research analyst Trip Chowdry seems to have gone a bit overboard. Chowdry recently said on CNBC about Apple's iWatch:
They only have 60 days left to either come up with something or they will disappear. It will take years for Apple’s $130 billion in cash to vanish, but it will become an irrelevant company… it will become a zombie, if they don’t come up with an iWatch.
Yes, folks. Apparently, the iWatch is the device that will make or break Apple. On one hand, it is almost possible to see the reasoning here. There have been plenty of research firms that have said wearables will be pulling in billions over the course of this decade, and the competition is already looking fierce. We don't know what Apple has to offer yet, but it is becoming increasingly difficult to see how Apple could announce anything that would dominate the market, unless it gets a jump on the competition.
Of course, as Apple is showing right now with the iPhone and iPad, this is a company that doesn't necessarily need huge market share (or even a majority of the market) in order to bring in enormous revenue. And, we still don't even know what the profit potential is for wearables. Right now, they are best as companion devices, and it it almost impossible for a companion device to destroy a company. At the end of the day, the most we may be able to take from this is the battle of absurd predictions that could be brewing between Chowdry and Apple fanalyst Gene Munster.