Reports from sources close to Apple indicate that the company will be hosting a press event on Oct. 22 to unveil the latest lineup in its iPad family including the new iPad 5 and the iPad mini 2.
As many who attend these high-profile unveiling events from Apple know, founder and CEO Steve Jobs always liked to end them by announcing one more thing. It is a tradition that current CEO Tim Cook has been trying to keep going with the unveils of the iPhone 5S and 5C as well as the reveal of iOS 7 at the World Wide Developer's Conference.
Recent reports from Piper Jaffray analyst Gene Munster indicate that Apple could be ready to unveil the highly anticipated, and subject of much rumor, iWatch wearable wrist accessory.
The iWatch has had a lot of buzz floating around it the past few months as Apple has made hires from Nike and the fashion industry as well as placed patents on the name "iWatch." With its rival Samsung unveiling its foray into the world of wearable technology with the Galaxy Gear smartwatch, it would do Apple well to push out a competing product for the upcoming holiday season.
Munster believes the company could sell up to ten million iWatches in the first year of the product being on the market. This will add more than $2.5 billion to the company's top line and over $750 million in profit. Since Munster's letter to investors and AllThingsD's report about the Oct. 22 reveal of new iPads, Apple's stock has risen.
Despite the rise, the company is still not near its Sept. 2012 high as many with stock in the company have laid low in anticipation of the company's next innovation. This has put pressure on Cook and the rest of the company to push out a product that will get the public excited. Perhaps a wearable wrist accessory will be what does it.
It's possible that the iWatch will be omitted from this month's event as there's no word on whether or not the device is truly ready for an unveiling. However, it would make sense to put the release so close to Samsung's.
