This Analyst Says Apple Watch Sales Are Surprisingly Strong

Trip Chowdhry of Global Equities Research said Apple Inc. (NASDAQ: AAPL) Watch sales are "surprisingly strong" over the past six weeks, as it has been the most popular gift item for College/University Graduating Class and for Father's Day.

"We started to observe pick up in Apple Watch sales about 6 weeks back. Initially we ignored the data points, thinking that it was just a typical aberration. However, the strength in Apple Watch sales continued to increase and we started to pay more attention to the trend," Chowdhry wrote in a note.

Related Link: Apple Watch Sales To Fall More Than 25% In Its Second Year

Chowdhry observed the following trends after monitoring Apple product sales at 17 Apple Stores in total at California, Washington and Illinois:

• "Parents were buying Apple Watch for their children who were Graduating from College/ University this summer."
• "Children were buying Apple Watch for their Dad for Father Day."
• "In four Apple Stores, which we were monitoring, Apple Watch Sales exceeded that of Apple iPhone."

According to TipRanks, Chowdhry has a success rate of 59 percent with an average return per recommendation of +15.9 percent. The analyst is ranked 305 out of 3,990 analysts.

At the time of writing, shares of Apple closed up 0.72 percent at $99.65.

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