Wall Street foresees slowdown in Apple Watch sales

Wall Street is g🅰etting worried about the Apple Watch.

A lea🐲ding tech analyst cut his forecast for Apple Watch sales on Wednesday amid widening concerns that demand for the new🍸 gadget is winding down after a splashy spring launch.

In a note to clients, Pacific Crest Securities analyst Brad Hargreaves said an initial feeding frenzy “should allow🌠 Apple to meet or exceed” his sales forecast of 5.5 million watches sold in the three🍌 months ended June 27.

Buꦗt the slowdown should hit in Apple’s fiscal fourth quarter ending in September, Hargreaves said. While watch sa🅘les in the period will be “relatively strong,” Hargreaves nevertheless cut his estimate for 2015 Apple Watch sales in the third and fourth fiscal quarters to 10.5 million from 11 million.

For 2016 sales, Hargreaves slashed his forecast more drastically — to 21 mil🦩lion watches from an earlier forecast of 24 million.

The analyst cited worries that Apple Watch🦂 momentu🧸m is fading fast.

“Store visits, Google search volume, third-party data and recent supply checks al꧒l suggest demand for Apple Watch has 🎶fallen sharply from initial levels,” Hargreaves wrote.

Indeed, while Google searches for “Apple Watch” spiked during its April launch, they had declined so sharply by mid-May that they even trailed searches for “iPod” — a product that some speculaꦆte Apple is in the middle of phasing out.

Still, most analysts, including Hargreaves, aren’t lowering forecasts for Apple’s overall reꦿ♐sults.

That’s because global dem꧋and for the iPhone — a far bigger busi🐠ness — has been better than expected, he said.

Apple shares on Wednesda☂y rose 0.9 percent to $126.60𓃲.