A \emph{square} is a word of the form $uu$, where $u$ is a nonempty finite word. Given a finite word $w$ of length $n$, let $[w]$ denote the corresponding \emph{circular word}, i.e., the set of all cyclic rotations of $w$. We study the number of distinct square factors of the elements of $[w]$. Amit and Gawrychowski first showed that this number is upper bounded by $3.14n$. In a recent article, Charalampopoulos et al. improved this upper bound to $1.8n$ and conjectured that the sharp upper bound is $1.5n$. In this note, we improve this upper bound to $\frac{5}{3}n$.