Apple (AAPL) Could Sell 1 Million Apple Watches the Opening Weekend, Piper's Munster Says

Piper Jaffray analyst Gene Munster expects Apple (NASDAQ: AAPL) to sell 1 million Apple Watches the opening weekend.

Munster comments, "With the start of Apple Watch availability rapidly approaching, we believe investors may begin to focus on opening weekend metrics. Apple may or may not release opening weekend sales figures for the Watch given that they are not reporting Watch numbers in quarterly results; however, we believe they may, at the least, give a sense for Watch sales when Apple reports earnings the following week. We expect Apple could generate 300k pre-orders in the first 24 hours and 1 million units in the first weekend. We also note that we expect 2.3 million units of the Watch in the Jun-15 quarter."

Pre-orders for the Apple Watch start April 10 and the device launches April 24.

The firm maintain an Overweight rating and $160 target.

The firm maintained an Overweight rating and price target of $160.00

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $124.43 yesterday.

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