The Apple Watch's competition isn't FitBit, Jawbone, Garmin or others. The competition is non-consumption.
Here’s a headsnapper.
On Monday, Baird’s William Power issued a report to clients that included the attached chart. In a survey of 3,400 U.S. consumers, 85% said that they weren’t in the market for a fitness band.
On Thursday, Morgan Stanley’s Katy Huberty issued a report from the International Consumer Electronics Show in Las Vegas:
See the disconnect?