There are many reasons to be optimistic about the Apple Watch being a "big category" for the tech giant, technology analyst Gene Munster said Monday.
Early reports indicated nearly 1 million pre-orders of the new smartwatch in the U.S. were made on Friday. Since supply was so limited, however, some buyers won't get their devices until weeks after the April 24 launch date.
"The wearables market has been ice cold for everyone else," Piper Jaffray's Munster said on CNBC's "Squawk Box." But "they could probably put an Apple logo on a teacup and sell over a million."
However, don't expect the watch to be an overnight sensation for Apple, he added. "I think ultimately this is going to ramp six quarters out here ... as more apps come out and really start to improve the value of this."
Munster expects Apple to sell 2.3 million watches in the June quarter. "We are about half of where the Street is at."
The trend of people using their smartphones to tell time instead of a watch has been a trend. "But if you can actually add value ... to something on your wrist I think that that just makes it incrementally better than a typical watch," Munster said.
But the Apple Watch is not only going after tech lovers. "Apple is [also] really pushing the design side … [for] people who aren't as interested in technology and just want a nice watch. I think that that point is something more disruptive to the traditional watch players."
"If you go back and look historically, it's going to clearly pick up some momentum this holiday," he said, referring to Christmas 2015. "But the average person isn't as tuned in to all this as we are, and it takes a bit of time for them to realize the virtues of these. So it's probably holiday of 2016 when this really goes vertical."