The iWatch buzz machine is running at full steam following Apple's WWDC 2014 announcements last Monday. The quick unveiling of the iOS 8 Health application, in addition to the new HealthKit platform, has most of the industry quite certain that Apple will launch an iWatch in the near future. Recent reports have suggested we'll see it as soon as September, or in October during a special Apple event. Now, investment bank UBS is sounding off on its own predictions for the wearable.

In a recent note, UBS analyst Steven Milunovich said he expects Apple to price the iWatch around $300 – about the same cost as what Samsung charges for its premium wearable. At that price, Milunovich believes Apple will sell about 21 million units in its first year. "We expected iWatch sales to roughly track iPad unit sales – similar penetration rates would mean higher sales," he explained, according to AppleInsider. "iWatch might do better because the customer base is larger than when iPad launched and the ASP might be less. On the other hand, iWatch is the first product to be worn, which might not appeal to all users."

Milunovich also thinks the iWatch will add an additional $6.5 billion to Apple's projected fiscal 2015 revenue and that, in 2015, that figure will nearly double. The analyst believes Apple will introduce the iWatch in time to ship before the holiday season.