Apple’s move into premium smartwatches is a $10 billion to $38 billion opportunity

Apple’s move to premium smartwatches with the Apple Watch Ultra is a $ 10 to $ 38 billion opportunity, Evercore analyst Amit Daryanani says in a new note to customers.

Introducing Apple Watch Ultra, the most robust and capable Apple Watch.
Apple Watch Ultra, the most robust and capable Apple Watch ever.

Phillip Elmer-Dewitt for Apple 3.0:

From “Warning!” a note for the Evercore clients that landed on my desktop on Friday:

Investors’ attention remains as always on the iPhone at this time of year; however, for a year when investor expectations range from falling revenue in the bearish case to modest growth in the bullish case, every growth factor matters. In this regard, we are examining the opportunity for both short and long-term growth resulting from Apple’s recent move into the premium Smartwatch category; although, with significant margins for further premiumization from now on …

… The Ultra marks Apple’s entry into the high-performance sports watch market (driven by its positioning for extreme sports) and entry into the premium smartwatch market.

We estimate that the premium Smartwatch opportunity for Apple is between $ 10 billion and $ 38 billion, with the low end of the range encompassing the sports-focused consumer upgrade, while the high-end of the range encompasses all sports-focused consumers. core functionality, such as better battery life.

MacDailyNews takes: If so, look for the Apple Watch Ultra to really start squeezing Apple’s already formidable “Wearables, Home and Accessories” category.

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