If one analyst is to be believed, the Apple Watch may not sell as rapidly as the iPhone 6 or iPhone 6 Plus, but the maiden wearable device from the Cupertino-based tech giant will be among its most profitable ever in the long run.

IB Times quotes Carl Howe, a market researcher at Think Big Analytics, saying that Apple Inc. may sell over 3 million units of the Apple Watch and garner revenues of worth over $2 billion in the first two weeks of sales. Howe is of the view that sales will break down in this manner - 1.8 million units of the Watch Sport, 1.3 million units of the stainless steel Watch and 40,000 units of the 18-karat gold Watch Edition.

According to the report, Howe has predicted that the while the Apple Watch will sell lesser units compared to the Sport model; actually it may go ahead in revenue with $900 million compared to $675 million of the Sport model. He adds that provided 40,000 Editions are sold, it may garner roughly $500 million in sales.

In a recent blog entry, Howe wrote, "My belief is that the Apple Watch product line will become Apple's most profitable product line ever, with gross margins exceeding 60 percent." Substantiating his views, the analyst said that while the materials used in each of the Apple Watch models is different, the basic electronics are the same for all models. Therefore, while calculating the different band choices, the costs are much lower compared to the premium price charged for the bands. According to company filings, relatively, the average gross margin per product stay closes to 39 or 40 percent.

While there are about a total of 38 case and band options for the Apple Watch, it appears that the stock is limited for the debut on Friday. However, Howe says that this was deliberate. According to the analyst, Apple has kept the first shipments small with a view to avoid stores having tons of stock sitting around.

Howe is among many who have come prior to Apple Watch shipments, which commences this Friday in nine countries, counting Australia, Canada, China, France, Germany, China, Japan, the U.K. and the U.S. While the Apple Watch Sport has a start price of $349, the stainless steel Apple Watch starts at $549 and the gold Edition has a starting price of $10,000.