Apple's next trick? Wearable tech, analyst says
Apple's next big venture could be wearable technology, starting with a “smart watch.”
Piper Jaffray analyst Gene Munster said on Wednesday he expects Apple to jump into the wearable tech market some time in 2014 or beyond.
“We believe that wearable computers will ultimately be a major future trend,” Munster said in a note to investors. “Longer term (over the next 10-plus years), wearable computers could eventually replace the iPhone and smartphones in general.”
Munster's predictions occur on the heels of rumors last week that the Cupertino, Calif., tech giant is working with Intel on a Bluetooth watch that would work with the iPhone.
Besides wearable tech, Munster also had quite a few other Apple predictions.
He said he expects Apple to start selling a TV in time for the next holiday shopping season, priced between $1,500 and $2,000. The model would have a screen measuring between 42 and 55 inches and include Apple's Siri and FaceTime features.
In addition to a full TV, Munster also said he expects Apple to update its Apple TV device and introduce a TV app store in early 2013. Around the same time, Munster said he expects Apple to release a radio service, which Apple is reportedly working on.
Additionally, Munster said he expects Apple will bring its high-resolution Retina display technology to at least two more of its products. He said the first would be the iPad mini, with a Retina model in early 2013, and then the MacBook Air laptop, with a Retina model in the summer.
Apple stocks closed at $549.03, up $16.87.
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