Apple Inc. (NASDAQ:AAPL) announced its new Apple Watch yesterday. The watch will be available in the first quarter of 2015. Apple Watch will have accelerometer and heart-rate monitor. Apple Watch needs to be used with iPhone to track the distance traveled. The watch will be available in two sizes including 38 mm and 42 mm. Apple uses sapphire glass which makes the watch tougher and more scratch-resistant in comparison with Gorilla Glass. There are different editions of Apple Watch including 18-karat gold edition.
Apple Inc. (NASDAQ:AAPL) focused on personal customization in this new product. With this new watch Apple presents wide range of stylistic preferences with three different types. Apple Watch Collection build by stainless steel and saphire crystal. Sport collection made from lightweight anodized aluminum.Watch cases of Edition collection crafted from 18-karat gold which is twice as hard as standart gold.
According to a report from Cowen & Co., new Apple Watch will change the dimension of the wearable device industry. Cowen & Co. reported that wearable devices estimated to grow by 132% annually until 2020. According to Statista, wearable device market will grow from $1.4 billion in 2013 to $19 billion in 2018. Success in the wearable device market is crucial for Apple Inc. (NASDAQ:AAPL) to continue its high profit margin in the near future. The company had a great start to the market with its new Apple Watch.
Apple Inc. (NASDAQ:AAPL) reported revenue of $37.4 billion and net income of $7.7 billion for the second quarter of 2014. The company has a market cap of $587 billion, P/E ratio of 15.8 and dividend yield of 1.92%. Apple has lost 1.1% during the day of new products announcement and lost another 0.87% during the premarket trades of September 10,2014.