Apple has been known for its mobile, technological devices in recent years, and new versions of them. But now, it is believed that Apple is creating something else unlike what they had ever made before. It is said that this will be a wristwatch like device, “that may perform some of the tasks now handled by the iPhone and iPad.”

Apple’s stock has actually fallen more than 30 percent since September, which creates pressure on CEO Tim Cook. According to Bloomberg News, “without a revolutionary new gadget that commands a higher price, investors are concerned about falling margins, and increased competition.”

Technology consultant
and former Apple employee Bruce Tognazzini has expressed optimism about
the new product. “The iWatch will fill a gaping hole in the Apple ecosystem. Like other breakthrough Apple products its value will be underestimated at launch, then grow to have a profound impact on our lives and Apple’s fortunes.”

It has been reported that Apple has “worked on wearable devices for tracking fitness in the past and never brought
them to market.” However,
“the introduction of a wearable computing device may signal a new direction for the consumer- electronics industry.” And Apple has been able to give rise to new markets in the industry when
it created the iPhone and then the iPad, creating a market for touch-screen smartphones and tablet computers according to Bloomberg News.

Fund manager at T. Rowe Price Group Inc. Josh Spencer has said, “Apple is right to invest in products such as watches, even if they don’t result in commercial products. There
are more people that would wear an Apple watch than would wear Google glasses. The Google glasses are a reference
to the eyeglass-embedded computers being developed by Google, according to Bloomberg News. Only time will tell if the iWatch can hold up the trend
of successfully popular Apple products though.