Analysts underestimated demand for Apple’s first two mobile devices, says Morgan Stanley’s Katy Huberty, and we should expect even more of the same for the company’s first wearable.
The iPhone, she points out, was in short supply when it first launch and had a deal with only one carrier.
Having raised her price target to $115 on Oct. 21, Huberty raised it again on Wednesday to $126.
Below: Her spreadsheets.
Click to enlarge.