Apple is anticipated to unveil a completely revamped version of its popular Apple Watch in the coming year or two. According to Bloomberg, the tech giant is scheduled to announce the new Watch Series 9 lineup on September 9th. However, it is the upcoming release of the Series X Watch that has Evercore ISI analyst Amit Daryanani particularly optimistic. Daryanani believes that this new iteration will introduce exciting updates and features that will drive significant demand.
Redesigned Features and Enhanced Functionality
Bloomberg’s report suggests that the Series X Watch will showcase a sleeker design with a thinner case, along with improvements in the band’s attachment mechanism. Additionally, a groundbreaking blood-pressure monitoring technology is expected to be introduced. If executed effectively, this technology could substantially enhance the value of the Watch. Typically, standalone blood pressure monitors tend to cost more than $40 and are inconvenient to carry on-the-go. Consequently, the integration of this feature into Apple’s smartwatch could attract not only existing smartwatch users but also individuals suffering from hypertension who have not utilized smartwatches for blood pressure monitoring before. Moreover, it may open avenues for insurance companies to assist users in financing their purchase.
Anticipated Impact on the Market
Apple’s wearables segment, which encompasses its watches, accounted for a notable $8.28 billion of the company’s impressive $81.8 billion total revenue for the third quarter. Daryanani, who rates Apple stock as Outperform with a $210 price target, holds a positive outlook for the Series X Watch. Seen as the first major redesign in the history of the Apple Watch, he believes it will entice existing users to upgrade and potentially entice users of rival brands to make the switch.
In summary, Apple enthusiasts and tech enthusiasts alike can anticipate an amazing transformation with the highly anticipated Apple Watch Series X. With substantial design changes, innovative features, and an expansion into health monitoring, this revamped device is poised to make a significant impact on the market.
Note: Apple did not provide an immediate response to requests for comments.
