5 Reasons Apple Watch Will Be A Huge Success

Not all critics are sold on Apple Inc. (NASDAQ: AAPL)'s first smartwatch, but analysts, experts and fintech entrepreneurs are convinced the device will still be a massive success. Here's why:

1. Notifications Could Do A Lot For Investors

"I think notifications are really the backbone of the wearable movement," Greg Neufeld, founding partner at ValueStream Labs (an accelerator for the fintech space), told Benzinga. "The more real-time notifications that you can receive and custom tailor to yourself without needing to take the extra seconds or multiple seconds to open your app or smartphone -- it just gives you more real-time information that's kind of on-demand for you."

Neufeld noted that there is "so much real-time information" that individuals need.

"I imagine that wearables could make a pretty big impact in finance as we move the ball down field," he added. "I don't see the Apple Watch becoming essential to financial services this year. But maybe within the next couple years it could actually be really interesting to see the technologies that move the notification system -- finance is all about real-time notifications -- right to the wrist or the eye or any kind of body sensor."

Related Link: Apple Likely To Break 'All Records' In March Quarter

2. More Developers = More Apps = More Devices Sold

Global Equities Research analyst Trip Chowdhry is most impressed by the Apple Watch "because the developer ecosystem continues to grow."

"The developers are switching away from Android and going to iOS," Chowdhry told Benzinga. "Apple Watch is the latest catalyst from that."

Chowdhry said that he has seen "more conversion from Android-focused developers" at the various Apple Watch hackathons he has attended. His overall assessment is that by having more developers than its competitors, Apple Watch will have more apps than any other wearable device. By having more apps, the device will be able to sell more units.

3. The Brand Name Goes A Long Way

FBR Capital Markets analyst Daniel Ives shared his top two reasons for why the Apple Watch will be a success.

"The brand name is number-one," Ives told Benzinga. "If Apple started selling yogurt, consumers would buy it."

4. Fashion Is Another Key Component

"Fashion and convenience" were number-two on Ives' list.

"We view this as a major door opener for the wearables category for Apple over [the] coming years," said Ives.

Benchmark analyst Michael Hickey also thinks the Apple Watch could perform well with fashion-conscious individuals.

"As a wearable, it's an outward accessory," Hickey told Benzinga. "Yeah, the smartphone is generally in a pocket. You pull it out, it looks cool. The watch is like a necklace, a bracelet."

5. Status And Fitness

Rob Enderle, principal analyst at Enderle Group, told Benzinga that the Apple Watch is selling on two vectors: status and fitness.

"Most high-end watches sell on status, but not on functionality," said Enderle.

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.