geek gadgets

Wall Road is obtaining worried about the Apple Watch.

A leading technology analyst cut his projection for Apple Watch sales on Wednesday amid widening problems that demand for the new kitchen appliance is unwinding after a splashy springtime launch.

In a note to customers, Pacific Crest Securities analyst Brad Hargreaves said a first feeding frenzy “should permit Apple to fulfill or go beyond” his sales forecast of 5.5 million watches sold in the 3 months finished June 27.

But the lag should attack in Apple’s financial fourth quarter finishing in September, Hargreaves stated. While watch sales in the duration will certainly be “reasonably solid,” Hargreaves nevertheless reduced his estimation for 2015 Apple Watch sales in the third as well as 4th fiscal quarters to 10.5 million from 11 million.

For 2016 sales, Hargreaves lowered his projection a lot more significantly– to 21 million watches from an earlier forecast of 24 million.

The expert cited fears that Apple Watch energy is fading fast.

“Shop visits, Google search volume, third-party information as well as recent supply examinations all suggest demand for Apple Watch has dropped sharply from initial levels,” Hargreaves wrote.

Indeed, while Google searches for “Apple Watch” surged during its April launch, they had decreased so sharply by mid-May that they also tracked hunt for “iPod”– an item that some guess Apple is in the center of phasing out.

Still, most analysts, consisting of Hargreaves, typically aren’t reducing forecasts for Apple’s total results.

That’s since international demand for the apple iphone– a far bigger business– has actually been much better compared to expected, he said.

Apple shares on Wednesday increased 0.9 percent to $126.60.