Apple's 'next big thing' might already be here

Analysts, pundits, and fans alike are desperate for Apple to get busy and unveil the "next big thing" to keep the dollars flowing as iPhone sales soften. But that "next big thing" could already be here.

Apple has reinvented the consumer electronic landscape three times so far. First, there was the iPod, then came iPhone, and finally, there was iPad.

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But, when it comes to tech, what was once new soon becomes old. There is huge pressure on Apple to come out with the "next big thing" in order to keep the dollars flowing in.

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And that "next big thing" could already be here in the form of Apple Watch.

Isn't Apple Watch a dud? A failure? An idea that's been kicked into the long grass?

According to Apple watcher Neil Cybart, the Apple Watch went from zero to a $10 billion business in 14 months.

"While these numbers are indeed lower than initial consensus estimates that came out when the Apple Watch was launched in April 2015," writes Cybart, "it would be incorrect to brush off a business that generated $6bn of sales in its first 11 months."

By crunching the numbers, Cybart estimates that if Apple Watch were a standalone entity in its own right, it would now be worth $10 billion. Compare that to companies like Fitbit and GoPro, which are worth some $3 billion and $2 billion, respectively.

Apple's 'next big thing' might already be here

Also, remember -- Apple has done this with a first-generation product. According to Cybart, Apple is just getting started.

"Rather than pressing a reset button, Apple is systematically going through the Apple Watch business to fix friction points that developed over the first year. All of this is being done to position the Watch for improved adoption and a valuation much greater than $10 billion."

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