Here is a brutal chart for Apple from Pacific Crest analyst Andy Hargreaves.

It shows that interest in the Apple Watch, as measured by Google Trends, is below interest in the iPod. Yes, the iPod, the thing that is pretty much dead:

The Apple Watch is Apple's first product in a new category since the company launched the iPad in 2010. Initial demand was strong as Apple's built-in base of users leapt to buy the latest product from the company.

"After strong initial demand, follow-on interest in Apple Watch appears mediocre," Hargreaves says. He believes Apple will be able to ship 11 million watches by the end of September, which would still be pretty good. He says his "confidence is declining" in the product, and he thinks Apple could whiff on his estimate of Apple selling 24 million watches in fiscal year 2016.

Early reviews of the watch have been tepid. While most reviewers say they like the watch, digging into the specifics of those reviews reveals a slew of complaints. Apps are slow or useless. Business Insider's executive editor, for instance, sold his watch after just a month with it.

The watch doesn't really do much to enhance the phone. Even from a fashion perspective, Hargreaves notes it seems "to be leaning a bit too much toward 'calculator watch.'"

Add it all up, and there's good reason to start worrying about whether the watch will be a home run.