Apple is notoriously secretive about its product plans, helping to build anticipation for its latest, greatest, gadgets. After Steve Jobs passed away, many wondered whether there was a product strategy already in place to keep Apple ahead of rivals such as
(GOOG - Get Report)
(AMZN - Get Report)
in consumers' minds and wallets.
The iPad, iPad mini, and iPhone 5 are all selling incredibly well, but Wall Street wants more. It wants to see product innovation in different categories, as well as innovation in existing ones (bigger iPhone, thinner iPad) to get Apple's mojo back.
There have been countless rumors about the
, which intensified throughout 2012. Cook has said in the past that the living room is an area of intense interest for Apple. "When I go into my living room and turn on the TV, I feel like I have gone backwards in time by 20 to 30 years," Cook told
Brian Williams in a
. "It's an area of intense interest. I can't say more than that," he added.
The iWatch rumors have ramped up in recent weeks, as Apple may make headway in a new product category. There are thought to be around 100 people working on an "iWatch," and that could be big business for Apple.
analyst Katy Huberty believes the watch could be worth as much as $10 billion to $15 billion in annual revenue for Apple, and $2.50 to $4 per share in earnings, assuming a $200 price point.
These products are in addition to the expected iPhone 5S and iPad 5 refresh, due out sometime later this year.
Apple most likely will not talk about any future product plans at the shareholder event, but may try to ease investor concerns that it's running out of iDevice ideas.