By Robert Martin, InvestorPlace Writer
Apple (AAPL) stock investors have the counting down the days; as of now, we are a mere one week away from the company’s big event revealing its latest major products.
The latest buzz is that Apple might also announce an “iWatch” at the event, possibly with a price tag of $400 according to sources cited by Re/code. For this new wearable device, AAPL likely will be using HomeKit and HealthKit software features, announced at the World Wide Developers Conference back in June.
The possible sticker price — while important — isn’t the big deal, however. The thing to note is that an iWatch would represent Apple’s first entry into a new device category in four years. Back in 2010, if you recall, AAPL got into the tablet game with the iPad.
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Of course, it’s not set in stone that the iWatch will be announced at next Tuesday’s event. Originally everyone was just counting down for the good ol’ Apple iPhone 6, while the wearable device was excepted to be announced later.
And a later shipment date still might be in the cards, considering there have been “no parts leaked for the expected wearable accessory, and rumored details about the device’s design have been inconsistent on everything from shape to screen size,” as Apple Insider put it.
Yet buzz and speculation around the possibility of an iWatch reveal next week has been building. And as VentureBeat’s Mark Smith recently pointed out, it’s easy to see why. He writes:
“The watch is the first wholly new product Apple has developed since Steve Jobs’ death and Cook’s ascension to CEO. It represents the answer to the question of whether or not Cook has, or lacks, the ‘vision thing.’”
He notes that Apple stock seems tied to this whole “vision thing” ... which has been a good thing in recent hype-ridden weeks but could prove to be the very opposite if Apple and Cook fall even slightly short. He also adds:
“Apple’s stock has been shooting upward in recent weeks, as the hype builds around the product announcement. Investors are feeling bullish about the new phones, as they should, and possibly about the new watch’s chances of selling well.
Maybe they’re even feeling bullish about the ‘vision thing.’”
And it’s true that Apple stock is up almost 30% year-to-date and almost 50% during the past 12 months, breaking into triple digits recently for the first time since the monster 7-for-1 stock split lowered the share price.
Will a new iWatch keep the momentum going? Stay tuned until next Tuesday to find out.
Also keep an eye on similar reveals from competitors. Google’s (GOOG) Motorola division for instance, is slated to reveal a Moto 360 smartwatch as well as the Moto G2 and Moto X+1 smartphone duo just five days before the Apple conference.
As of this writing, Robert Martin did not hold a position in any of the aforementioned securities.
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