Tech

iWatch getting wound up for summer reveal

Apple’s iWatch is starting to take shape — and it’s round.

The long-anticipated wearable-tech gadget from the company is expected to be unveiled this summer — and to hit store shelves in time for the holidays, three Wall Street analysts have forecast.

Brian Blair, of Rosenblatt Securities, after talking to his Asian supply chain sources, wrote in a report to investors that Apple will kick off production of its smartwatch this summer.

“We expect the device to have a round face,” Blair said in a report.

Investment bank Barclays then followed up with the prediction that Apple will start shipping its new watch after Thanksgiving — just in time for the holiday sales season.

The analysts also agreed that the watch will act as a newfangled iPod, the Cupertino, Calif., company’s once-innovative digital music player.

To be sure, Apple is in dire need of a new product line. The gadget maker has been plagued by fears that its days of culture-shifting innovations are over.

Shares of Apple are up 11.2 percent this year, to Wednesday’s close at $624.01 — but that’s due in large part to its massive stock buyback program and a planned 7-for-1 stock split.

A successful new product line will certainly boost the stock further. Plus, a smartwatch could work well with Apple’s $3 billion acquisition of music streaming service Beats Electronics.

Barclays’ Ben Reitzes raised his price target on Apple’s stock Wednesday to $655 a share, based in part on the smartwatch, which he foresees being marketed as a fitness tool.

“Our math suggests that if the company were able to sell 50 million units, the EPS contribution would be about $4 per share,” Reitzes said.