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 Apple is widely expected to disclose weekend pre-order numbers at
around 8:30 a.m. ET on Monday.
According to shopping data firm Slice Intelligence, Apple booked
nearly 1 million pre-orders for the Apple Watch in the United States
on Friday.
The Apple Watch, which allows users to check email, listen to music
and make phone calls when paired with an iPhone, goes on sale
officially on April 24.
"Based on our observations and media reports, launch day supply was
largely sold out within the first 10 to 30 minutes depending on
model," Piper Jaffray analyst Gene Munster said in a client note.
Munster, who expects Apple to sell 2.3 million watches in the
April-June quarter, expects Apple to ramp production between mid-May
and June.
BofA Merrill Lynch expects Apple to ship 4 million smartwatches in
the quarter.
The Apple Watch is Chief Executive Tim Cook's first new major
product launch and the company's first foray into the personal
luxury-goods market.
The company will sell the gadgets in Apple stores and online as well
as in trendy fashion boutiques in Paris, London and Tokyo as part of
a strategy to position the wearable computer as a must-have
accessory.
Despite mixed reviews, which praised the watch's styling but
criticized its less-than-spectacular battery life and slow-loading
apps, people flocked to Apple's stores to get a close-up look.
"We think the Apple Watch will be highly disruptive to the
traditional fashion watch market," Pacific Crest analysts said.
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The analysts said their checks showed that Apple appeared to be
ordering components for the watch that would allow it to build well
over 20 million watches this year.
"While this represents just over 5 percent of the company's iPhone
user base, it would be nearly half of the total (more than) $200
watch market," they said.
The brokerage expects Apple to likely have about 5 million Apple
Watches available for delivery by April 24.
Analysts widely expect the Apple Watch to outsell similar watches
offered by Samsung Electronics Co Ltd, Sony Corp and LG Electronics,
which have attracted lukewarm interest from consumers.
(Reporting by Tenzin Pema and Devika Krishna Kumar in Bengaluru;
Editing by Sayantani Ghosh and Ted Kerr)
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