Apple Inc AAPL may have underestimated the demand for Apple Watch Series 6's Titanium variant and run out of supply months after it stopped manufacturing them,as perBloomberg's Mark Gurman.
What Happened: The $799 titanium model of Apple Watch Series 6 is listed as “currently unavailable” on Apple’s website and is sold out in most major markets for every size, color and band configuration and it is also said to be unavailable at most brick & mortar Apple stores globally.
“Given the high price point, Apple probably only made a small amount expecting they wouldn’t sell very well. They likely stopped manufacturing them months ago and are finally running out of supply,” Gurman noted in the latest edition of his tech newsletter.
Why It Matters: Apple is expected to launch the Apple Watch Series 7 alongside the iPhone 13 in September.
According to Gurman, Apple may drop the pricier Edition material as it has done in the past as it would not make sense to buy a watch that will be outdated in a year and will cost $800.
Apple does not break out separate sales numbers on Apple Watch but it is a key revenue driver for the Cupertino, California-based company’s wearables, home, and accessories segment. The category churned in $8.77 billion in sales, up 36% from a year-ago quarter.
Price Action: Apple shares closed 0.15% higher at $145.86 on Friday.
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