Is the iWatch the Answer for Apple?
Apple Inc. (AAPL) has become a boring stock, how did it turn into another Microsoft Corp. (MSFT)? These are the lines we keep hearing and reading from the media, all it takes is a new product to put faith back into the world's richest company.
Enter the iWatch.
The internets is on fire about the potential wrist watch from Apple. The buzz is it's the modern day Dick Tracy 2-Way Wrist Radio watch. Let's hope it can do a little more than that, like play a MP3 or maybe stream video?
Apple needs something, its stock is down 12% this year while the Dow Jones has gained 7%. Worse yet Apple shares have been cut in half since their Sept 2012 52-week high. Apple now trades at $467 and it's not good enough for Mr. Einhorn from Greenlight Capital.
A new Apple must-have-product could change the game and get everyone off the company's back about thier massive $137 billion cash pile.
The solution to appease uneasy Apple shareholders could be the iWatch or whatever the name might be. Word from Bloomberg.com is the company has about 100 product designers working on a wristwatch-like device that may perform some of the computing tasks now handled by the iPhone and iPad, two people familiar with the company’s plans said.
Bottom line: If all this iWatch hype is real Apple shares could finally get back to making new 12 month highs every week vs. the opposite. Let's hope for Apple Inc. shareholders a new watch like device is in the works. Apple shares won't get to $1,000 by 2015 unless there is growth. No growth means no big moves for AAPL.
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