Generic domains are all about use: For example, you can utilize AppleWatch.com to monitor your apple orchards during a cold winter, but you can’t use it to resell the new Apple Watches.
Since AppleWatch.com was registered 10 years ago, it’s technically safe from any legal motion by Apple; in fact, the current owners might be sitting on a pile of cash.
That can’t be said for the idiot who registered AppleWatch.XYZ today, however.
It is most likely that Apple, that registered AppleWatch.org today, will soon start actively monitoring domains and web sites that attempt to capitalize on its brand; from this day onwards, any violators of the Apple mark should expect to receive cease and desist letters.
If you wondered what a generic “apple watch” is like, click here for a humorous approach.