Apple share price down, provides additional details around Apple Watch

Apple Inc unveiled details around its latest device, highlighting daily uses like meetings reminders, exchange of short messages, taxi calling and many others.

On Monday the iPhone maker disclosed additional information about its Apple Watch, including designs, prices rages and performance numbers. The technology giant touched on the importance of the devices overall design, which the company thinks is a driving factor when a person is choosing a new wearable timepiece.

The device will come in three basic models. The Watch Sport, which is the most simplistic option, has a aluminum body and price tag of around $350. The middle class model was dubbed just Apple Watch, featuring a steel body the device has a price range of between $549 to $1 099 base on the bands of the watch.

Since the announced of Apples smartwatch, people have been speculating about a gold-and-sapphire version with an estimated valued of $10 000. Unfortunately for potential buyers the Watch Edition, that figure would be just the starting price of the device and could go up to $17 000. Apples most expensive product so far features a case made from 18-karat gold and a display that is protected by polished sapphire crystal.

Additionally, all the of the models will have two versions, a 38 mm and 42 mm. The price difference between the two sizes would be only $20 for the basic model, $50 for the middle one and $2 000 for the Watch Edition.

Apple confirmed that pre-orders would begin on April 10, while actual deliveries are scheduled to start on April 24. However, initially shipments would be limited to nine countries: the UK, the US, Canada, Australia, China, France, Germany, Hong Kong and Japan.

The watch is expected to have a battery life of 18 hours or 72 hours on “power reserve mode”, which is supplying enough power to only show the time, and it would take 2.5 hours to recharge.

However, Apple said that the watch will only work will the companys iPhones, which significantly shrinks their targeted market. According to market researcher IDC Apples operating system powered 19.7% of all sold smartphones during the fourth quarter of 2014, while Android accounted for 76.6%.

Apple gained 0.43% on Monday and closed at $127.14 on the NASDAQ, marking a one-year increase of 67.78%. The company is valued at $737.41 billion. The stock dropped 0.60% on Tuesday to $126.38 during pre-market trading.

According to CNN Money, the 42 analysts offering 12-month price forecasts for Apple have a median target of $140.00, with a high estimate of $165.00 and a low estimate of $60.00. The median estimate represents a 10.11% increase from the last closing price.