Analysts who predicted that the iWatch would sell millions are suddenly getting to work and slashing their expectations.

Only around 5.5 million copies have purportedly been dispatched to early adopters through June 27 which is far lower than the figures that analysts had enthusiastically touted.

Brad Hargreaves from Pacific Crest Securities was the latest to believe that 10.5 million units will be moved in Q3 and Q4, which would marginally fall below previous expectations of 11M. He thinks for 2016 sales, only 21 million watches will be sold. He earlier said 24 million.

The analyst cited worries that Apple Watch momentum is fading fast.

"Store visits, Google search volume, third-party data and recent supply checks all suggest demand for Apple Watch has fallen sharply from initial levels," Hargreaves wrote.

That is not bad but he was one of the more conservative in the first place.

Ben Wood, chief of research, CSS Insights said predicted that 20 million Apple Watches will be sold by the end of 2015. JPMorgan Chase said 26 million units and Credit Suisse, thought sales as high as 35 million.