Currently, Apple has quoted its smartwatch as starting at $349 but an analyst at Piper Jaffray thinks it will be way more than that. Gene Munster is projecting the price of the Apple Watch to cost over $500 dollars at the very least.
"Traditionally Apple comes at a market with a technology approach, this time it's going to be more of a design approach," he told CNBC's "Squawk on the Street" on Tuesday. "The bands and the accessories are ultimately the higher margin products here."
Munster said that if the company can successfully brand itself around the designer watch category, the Apple Watch could ultimately be a success story.