Apple Inc. (AAPL) Watch Could Kick Off A Wave Of Tech Startups: Christopher Mims

Apple Inc. (NASDAQ:AAPL) is reportedly planning to launch its Apple Watch in the month of March. But even before the actual announcement from the company, many high profile investors are writing off the Apple Watch success and throwing cold water into the prospects of it. But many other feel that Apple Watch is going to be great success story and help Apple Inc. (NASDAQ:AAPL)’s growth in 2015. Wall Street Journal Technology Columnist, Christopher Mims talked on CNBC about overall impact of Apple Watch.

Mims pointed out that the Apple Inc. (NASDAQ:AAPL)’s Watch might spark a new set of tech startups kick off the app development for the product. He talked about one such startup inMarket which is working on an app to locate the items inside a grocery store. He said that inMarket has already done some apps for iPhone.

“[…] They (inMarket) have in the lab an app that allows you to navigate through a grocery store and avoid the problem and we have all had in being able to find things on a particular aisle. So actually they are using the geo-location abilities that are unique to the combination of iWatch and the iPhone to give you very precise positioning inside the store,” Mims said about inMarket’s new app for Apple Watch.

No one knows if Apple Inc. (NASDAQ:AAPL) could be able to sell these smartwatches. Mims said that no one is sure about how much Apple Inc. (NASDAQ:AAPL) is going to sell. But he pointed at Morgan Stanley’s projection that Apple Inc. (NASDAQ:AAPL) could sell 30 million units of Apple watch in the first year. He said that Apple Inc. (NASDAQ:AAPL) could sell only 14 million units of iPads on a comparative basis. He thinks that if Apple Inc. (NASDAQ:AAPL) could meet Morgan Stanley’s target that would move the stock in this year.

Mims feels that a number of tech companies will be ready with their app by the time of Apple Inc. (NASDAQ:AAPL)’s smartwatch launch. He said that early companies with their apps for iWatch might earn big as seen during the iPhone launches.

Disclosure: None

Free Report: Warren Buffett and 12 Billionaires Are Crazy About These 7 Stocks

Let Warren Buffett, David Einhorn, George Soros, and David Tepper WORK FOR YOU. If you want to beat the low cost index funds by an average of 6 percentage points per year look no further than Warren Buffett’s stock picks. That’s the margin Buffett’s stock picks outperformed the market since 2008. In this free report, Insider Monkey’s market beating research team identified 7 stocks Warren Buffett and 12 other billionaires are crazy about. CLICK HERE NOW for all the details.