Apple Watch sales outlook reduced again
Another Wall Street analyst has cut his forecast for Apple (AAPL) Watch sales. But this time, it’s because of supply constraints, not slack demand. CLSA analyst Avi Silver on Thursday trimmed his Apple Watch sales forecast for 2015 to 16 million units from 20.5 million “as the supply situation has not improved.” However, he noted that “we do not yet have a good demand picture.” Silver maintained his 2016 forecast at 35 million units, “as we still expect the category to be highly successful over time.” In a research report, Silver reiterated his buy rating on Apple stock with a 12-month price target of 163. Apple stock was down a fraction, near 132, in late-afternoon trading on the stock market today. Last week, KGI Securities cut its shipment prediction for the Apple Watch this quarter by 20% to 30%, citing slow demand. It now expects 5 million to 6 million…