The big news headlines keep coming from Apple. Friday it was announced that the company would enter the Dow Jones Industrial Average in the place of telecom giant AT&T. Monday,s it's expected to finally unveil the Apple Watch.
Read More Apple to replace AT&T in the Dow Jones Industrial Average
Daniel Ives, FBR Capital Markets' managing director, is bullish on the smartwatch, and on the broader wearables industry.
"The Apple Watch launch is really a seminal event not just for Apple but really for the whole wearables market," he said Friday on CNBC's "Squawk on the Street." "It's the next frontier of technology on the consumer side."
Ives is optimistic about the launch and estimates that the wearable market could potentially become a $10 billion to $15 billion market opportunity.
"Apple has shown time and time again it has created the categories," he said. "You need that groundbreaking technology that could really start this next trend."
He said that wearables could also be a significant market for other companies like Microsoft and Google.
Ives added that he plans to buy an Apple Watch for himself.
DISCLOSURE: Neither Ives nor his firm own Apple stock.