apple watchA few days ago we reported that over the weekend, Apple had managed to secure 1 million pre-orders for the Apple Watch. That is pretty impressive especially when you consider that Android Wear devices only managed to hit 720,000 units in 2014, and now according to a new report from KGI Securities analyst Ming-Chi Kuo, that number has grown.

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Kuo’s latest report claims that Apple Watch pre-orders have exceeded the 2.3 million mark. According to his note to investors, “We estimate production of Apple Watch around 2.3mn units in March-May. Mass production of Apple Watch began in March and will likely reach 2.3mn by end of May.” Now as we know, just because Apple produced that many doesn’t mean they’ve sold that many, right?

However Kuo theorizes that because shipping estimates for the Apple Watch have slipped to June, chances are the units that are being produced are the pre-orders that Apple will be fulfilling. “Considering that most consumers who preordered will not get the device until June, we estimate global preorders of over 2.3mn units, with Apple Watch Sport, Apple Watch and Apple Watch Edition representing a respective order allocation of 85%, 15% and less than 1%.”

Kuo also notes that in order to keep up with demand for the wearable, Apple is expected to expand the supply chains for the Apple Watch. We should point out that Apple has yet to reveal the official sales figures for the Apple Watch so take these estimates from analysts with a grain of salt for now.

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