Apple shares surge despite rumoured iWatch delay
Shares in technology giant Apple have surged to a new high on expectations of the iPhone 6 launch on 9 September, despite a delay in the long awaited iWatch to 2015.
Analysts now expect the wearable device to be made available from next year whilst designers scrabble to optimise its hardware and software, disappointing early adopters who had hoped to get their hands on the gadget before Christmas.
After digesting the news markets reacted positively to the developments, sending Apple’s stock upward by 1.4 per cent to hit a new record high of $100.53.
Speaking to 9to5mac.com KGI Securities analyst Ming-Chi Kuo said: “We reiterate our view that iWatch, as compared to existing products, and as Apple’s (US) first attempt at a wearable device, represents a much higher level of difficulty for the company as regards component and system design, manufacturing and integration between hardware and software, he said.
“While we are positive on iWatch and believe that the advantages of the design and business model behind it are difficult to copy, we think, given the aforementioned challenges, that the launch could be postponed to 2015.”
Excitement around the device has risen following the appointment of senior executives from Swiss luxury watch brand Tag Heuer and fashion brand Burberry.