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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, DOWNBEAT GDP

Caterpillar sinks 7% after earnings, management sees weakness in Europe, Asia-Pacific

Best Buy, Target announce $50 offers amid Apple Watch Series 2 delays

Anita Balakrishnan
Updated
Christopher Dilts | Bloomberg | Getty Images. Taking a page straight from Wal-Mart's playbook, Target will invest its own cash to ensure it is "clearly and competitively priced every day."

Customers who pre-ordered the new Apple Watch from Best Buy (NYSE: BBY) or Target (NYSE: TGT) may see delayed delivery, the companies said.

Both retailers have announced $50 offers toward future purchases for affected orders, after inconveniencing customers that pre-ordered some Apple Watch Series 2 devices.

The wearables went on sale in stores in many countries on Friday, after Apple opened pre-orders on Sept. 9.

The new Apple Watch offers perks like swim-safe water resistance, a 50 percent faster processor, a brighter screen and GPS. The features have impressed , but at $369, it wasn't yet a "must buy" for many reviewers.

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Still, researchers at IDC estimate that total smartwatch shipments will reach 20.1 million units in 2016, an increase of 3.9 percent from the 19.4 million units shipped in 2015. That's expected to reach 50 million units by 2020, the researchers estimate, as the watches become more cost effective and get cellular data, building their appeal in the broader market.

"To date, smartwatches have remained in the realm of brand loyalists and tech cognoscenti, but we expect that to change over the next few years," Ramon Llamas, research manager for IDC's wearables team, said in a statement.



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