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“Going Back to the Garage – Hardware Renaissance Just Starting” – PDF by Oppenheimer-

We’ve written in past reports that smartphone growth is slowing and we also discussed how we see the Apple Watch as the catalyst for IoT, so in this report we explain why and how. It starts with a consumer’s desire to touch and feel and ends with the maker’s ability to create. A less esoteric answer: In our view, several bottlenecks (component costs, supply chain and manufacturing, financing, and product development) have significantly eased. Combined with broad smartphone adoption and ubiquitous connectivity, we believe we are at the very beginnings of a Cambrian explosion of consumer electronics. We believe over the next decade, hardware will be thought of the same way

Read more (PDF).