Apple's ability to turn relatively new product categories into caché products is impressive. But one thing to consider is that the wearable market has been around far longer than the other markets that Apple has moved into.

For instance, the long term existence of a wearable time keeping device has allowed others to cultivate over time the caché market that exists today. Think Rolex, Cartier, etc. Apple is going to have a hard time breaking into that high margin market.