Even Apple loyalists taking their time on Apple Watch

On Greater China: Apple experienced revenue growth 112% and iPhone unit growth of 87%. Investors are eagerly anticipating any news on the Watch debut, Apple Music and Apple pay. Market research firm Canalys has published its own estimate, suggesting that Cupertino shipped 4.2 million Apple Watches during the quarter ending June 30. Analysts at Credit Suisse reiterated a buy rating and set a $145.00 price target on shares of Apple in a research note on Wednesday. It is the ideal premium gadget gift and it will be gift wrapped waiting for many people under a christmas tree this year.

Apple has in the past trumpeted sales figures for new products, from the iPhone, iPad and iPad to Macintosh computers, but said it wouldn’t for the Watch, because it didn’t want to give the information to competitors.

Speaking about Apple Watch, Cook said feedback has been “incredibly positive” and Apple has been happy with usage rates.

“Sales of the Watch did exceed my expectations, despite supply trailing demand at the end of the quarter”, said Cook as he spoke to the media shortly after having presented the fiscal report of the company for the past quarter. He said watch sales in June were greater than in May or April, when the watch first became available. Net profit was $10.7 billion, translating to earnings of $1.85 per share. He said the watch sales were offset by declining revenue from iPods and accessories, which are also lumped into that segment.

All we can say for sure at this point is that, at somewhere between $1 and $2 billion, Apple Watch revenues are a drop in the bucket compared with those of the company’s more established devices.

Analyst firm Strategy Analytics puts the number at 4 million units, which translate into a 75% global smartwatch market share.

IPhone sales are still growing rapidly, but the pace of growth is slowing.

“Investors are asking how much earnings upside is left in the next year”, said Gene Munster, an analyst at Piper Jaffray Cos. After the blowout sales of first quarter of 2013 with nearly 23 million units, it has been a product of diminishing returns for the company.

Analysts had expected Apple to sell even more iPhones and were looking for a brighter forecast than was given for the current quarter.

Apple’s profit for the quarter rose by 38% from a year earlier to $10.7bn, while revenue was up 33% to $49.6bn.

Analysts also worry about whether Apple can sustain its recent growth. That’s around $952 million higher than the revenues from the previous quarter before the Watch went on sale.

Meanwhile, many Apple-watchers were keen to hear more about the company’s newest gadget. Apple stock was down to its lowest price since February of this year during after hours trading only after it closed just one dollar short of an all time high.

However, since Apple (NASDAQ:AAPL) could not manage to provide the sales numbers of the watch in its conference call, many have started to doubt the product.

The company isn’t revealing concrete sales figures for ‘competitive reasons, ‘ but if it does turn out to have sold 4 million in the last three months, then that wouldn’t be a bad return at all, considering the early stock shortages. “I thought this would be the case with the watch”.