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But last year’s flagship smartphone launch wasn’t all that flawless from Apple, even though the company’s improved revenues might convince us otherwise. Apple’s current market cap stands at $674.02 billion. There are other wearables in the market, but...

But what about the bears? The level was vital as last time when the stock fell into the danger zone on July 9, it found buying support at this level, says the report.

The last time Apple slipped more than 10 per cent was in December during a decline that lasted 13 days.

In the second quarter of this year, the Strategy Analytics figures show, 5.3 million smartwatches were shipped included 4 million Apple Watches. If we assume a 15% sequential decline in revenue from those products, we can attribute roughly $1.2 billion in revenue to the Apple Watch.

Despite the hard trading conditions, Unilever has posted better-than-expected second quarter figures, driven by gains in its home and personal care units. Revenues, however, climbed with higher volume and prices, as well as strong underlying performance in emerging markets.

Revenue rose 32.5 percent to $49.61 billion from a year earlier, beating Wall Street’s expectations of $49.43 billion. Analysts estimated that the company sold around 48 million to 50 million iPhones during the period.

Apple beat Wall Street expectations on revenue and earnings per share.

Apple beat Wall Street expectations on revenue and earnings per share.

Analysts are expecting strong growth for Apple in the reporting quarter. While not expected to be a major revenue source now, the Apple Watch has symbolic importance as the first new product category that Apple has launched since the 2011 death of co-founder and iconic CEO Steve Jobs.

Though Apple has often trumpeted sales results for new products, Cook has said he doesn’t want to reveal Apple Watch figures for competitive reasons.