(CNBC) — Influential technology analyst Toni Sacconaghi said Apple could sell 1 billion watches as the device becomes an indispensable device for monitoring our health.
"Long term we are increasingly intrigued about the possibility of the watch evolving from a discretionary consumer offering to an essential health-monitoring device—i.e., one that could possibly save lives," wrote the analyst in a report entitled "Apple: Could it sell a billion Watches?" sent to clients Monday. "If this were the case, Apple's Watch could be big—really big."
Bernstein's Sacconaghi, who has had an "outperform" rating on Apple since 2011 when it was $82 a share, predicts the stock will rise 6 percent to $135 over the next 12 months.
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