A number of solid reports have suggested that Apple is developing a smartwatch as it searches for new revenue streams in the increasingly competitive mobile market. While initial claims suggested the “iWatch” was still in the early stages of its development, some reports have pointed to a 2013 launch and now new evidence supporting that timeframe has emerged.
During his trip to meet with unnamed supply chain companies in China and Taiwan, Topeka Capital Markets analyst Brian White claims he saw signs that Apple’s (AAPL) supply partners are preparing to ramp up production ahead of an iWatch launch sometime this year. According to White, the iWatch will make use of new technologies that may help bolster interest in the device.
“We believe the much-hyped Apple iWatch is showing early signs of movement in the supply chain and will be launched this year with interesting new technology features that have not yet been touched upon,” the analyst wrote on Tuesday in a note to clients.
White failed to elaborate on what those “interesting new technology features” might be, but anticipation continues to build as investors look for Apple to enter new markets that might help it regain momentum.
Topeka reiterated its Buy rating on Apple shares with an $888 price target.