Apple needs an iWatch sooner rather than later, or the company will risk losing its innovative edge to rivals, analysts say.
"They only have 60 days left to either come up with something or they will disappear," said Trip Chowdhry, managing director at Global Equities Research.
"It will take years for Apple's $130 billion in cash to vanish, but it will become an irrelevant company ... it will become a zombie, if they don't come up with an iWatch."
In addition to its innovative edge, Apple risks missing the huge opportunity that exists in the fast-growing wearable space if it doesn't come out with something soon, said Chowdhry. He nevertheless has an "overweight" rating on the stock, and an $800 price target.