Apple (AAPL) Watch 'Buries the Competition', Could Be Bigger than iPad - Needham & Company

Needham & Company analyst Charlie Wolf weighed in on Apple (NASDAQ: AAPL) following the introduction of the Apple Watch. Wolf said the Apple Watch "buries the competition" and sees the device potentially becoming bigger than the iPad.

Wolf highlighted the watch's digital crown, "the new user interface, enables scrolling, zooming, and fluid navigation without obstructing the display. The different functions of the Apple Watch are so diverse that it would take pages to enumerate them."

He added, "In view of the fact that there are over 800M iOS users, the watch has the potential to emerge as a new category as large as, or larger than, the iPad."

"It was clear that the Apple Watch unveiling would be a major step in Apple's mission of providing consumers with a brilliantly designed and easy to use watch. But even we were blown away, as we see the Apple Watch ranking alongside the iPhone as an example of the company's unique, new technology."

The firm maintaed a Buy rating and price target of $97.00

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $97.99 yesterday.

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