Not wild about the Apple Watch's potential? Neither is JPMorgan.
Analysts at the investment bank slashed their Apple Watch estimates for fiscal 2016 to 11.9 million unit shipments from 23.5 million, adding they see the wearable only penetrating 7 percent "of its addressable base by the end of 2017 vs. previous assumption of 15%."
Rod Hall, one of JPMorgan's analysts, told CNBC's "Fast Money: Halftime Report" on Thursday that "we've seen demand weakness on that watch below what we had anticipated. We think it's a great product; it's just that the traction for these watches, people still haven't figured out what they want to use them for."