What time is it? Time for you to a buy a watch, an Apple Watch that is. After the announcement of the Apple Watch this past Fall, consumers have been waiting to get their hands on this product. Understandably so, investors couldn’t wait the launch either. With prices for an Apple Watch ranging from $349-$17,000, it will most likely bring a good return on investment. However, as pre-orders have been coming in for the Apple Watch, the same can’t be said for ETFs heavy on shares of Apple. MarketsMuse blog update profiling the little excitement in Apple ETFs is courtesy of ETF Trends, Todd Shriber, with an extract from his article, “Apple Watch a Non-Event for Apple ETFs” below.
Apple (NasdaqGS: AAPL) is taking preorders for its much ballyhooed Apple Watch. Or was taking preorders.
Nearly of the models made available to U.S. consumers sold out in just six hours and it looks the April 24 availability date announced by the company at the Apple Watch unveiling event last month is getting pushed back. Perhaps as far out as the third quarter.
“Whether due to high demand or low supply, all models of Apple Watch have now almost entirely sold out with many slipping delivery date estimates in mere minutes of preorders opening. In the US, the 38 mm Stainless Steel Case with Black Classic Buckle is the only model still on offer with a ‘April 24th – May 8th’ shipping date,” reports9to5Mac.com.
Unveiling a new product with preexisting, pent-up demand is old hat for Apple and that might explain the lack of enthusiasm for the blowout preorders being displayed by exchange traded funds heavy on shares of Apple. Even shares of California-based Apple are trading slightly lower today.
To read the full article from ETF Trends’ Todd Shriber, click here.