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China could be biggest market for Apple Watch

China will be dark horse for Apple Watch: Pro

Brian White, Cantor Fitzgerald managing director, said Monday that he wouldn't be surprised if Apple saw more watch additions sold in mainland China than anywhere else in the world.

"People in China and Hong Kong are very, very curious about the Apple Watch," White told CNBC's "Squawk Alley." "I think China is going to end up being the dark horse in this."

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White is positive about Apple's foray into a new product category saying "it's very exciting and the stock is still dirt cheap." The stock didn't get sloppy after the watch's release, which is a sign it could move higher, he added.

"I think that's the call and why we have $180 price target and a trillion dollar market cap valuation," he said.

The Apple Watch on display at an Apple store in Beijing.
Zhang Peng | LightRocket | Getty Images

White said he expects the company will produce 25 million units in fiscal year 2016 and would like to see lead times that stretch into June.

"Apple doesn't want June shipments, and that tells me they were surprised at the upside this weekend," he said.

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Disclosure: Brian White does not own shares of Apple. However, Apple is an investment banking client of Cantor Fitzgerald and the firm and/or its affiliates is a market maker in Apple Inc.