This Analyst Believes iWatch Will Be Much More Than An iPhone Companion

What is Apple’s next project ? Most of you probably know or even heard from a friend that Apple claimed to be working on a new smart watch which said to be called iWatch. On the iPhone front, the analyst echoes his colleagues, saying that he is ‘very confident’ that 2014 will be the year of the larger iPhone—and for what it’s worth, he’s saying 5-inches. But his most interesting comments are in regards to the oft-rumored iWatch project…

Here’s a note from White’s note (via BGR):

“Our contact also discussed the ‘iWatch.’ Although thoughts around the ‘iWatch’ have been widely covered by the media, this potential device has yet to be launched, and the use case discussions have been rather rudimentary.

As an Apple supplier, our contact offered insight into the ‘iWatch’ and described this potential new device as much more than an extension of your iPhone but as a multi-purpose gateway in allowing consumers to control their home (i.e., heating/cooling, lights, audio, video, etc.). We found this discussion interesting as it opened our eyes to why the ‘iWatch’ has the potential to appeal to a much broader audience of consumers than just another mobile device.”

Moving beyond the iPhone 6, White sees Apple finally launching its much-rumored iWatch soon as well. He believes the device will be much more than just a smartwatch, however, which might be a good thing considering how bad recent smartwatches have been.

But if we pretend for a moment that he could be correct, then the iWatch would be much more than just an iPhone accessory. Imagine being able to control your thermostat with a swipe across your wrist, or set your lights to turn on/off when you walk in/out of a room.

White reiterated his Buy rating on Apple shares with a 12-month price target of $777.