This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Apple iWatch Hiring Ramps Up: What's It Mean? (Update 1)

Stocks in this article: AAPLMSFTGOOG

Updated from 10:03 a.m. EDT with further analysis in the 12th paragraph.

NEW YORK ( TheStreet) -- The iWatch is such a big deal that when Apple (AAPL) goes on a hiring spree for it the world stops and takes notice.

The Financial Times reported that Apple has been "aggressively" hiring for the smart watch in the past few weeks; the newspaper cited people close to the situation.

Apple couldn't be immediately reached for comment.

Not only is Apple looking at hiring outside talent for the project, the FT also reported that Apple may look at acquiring other smaller companies that would help with the production of the iWatch.

Last month, Apple hired former Yves Saint Laurent CEO Paul Deneve to work on special projects, and report directly to CEO Tim Cook. Many industry watchers took this as a sign it could be iWatch-related, since Deneve has experience in selling high-end accessories and clothing.

It's long been speculated that Apple would announce a wrist device to boost sales outside of the iPad and iPhone. Moving into other wearable technology is something new for Apple, which may be part of the reason Deneve was brought in and why the Cupertino, Calif.-based tech giant is looking at smaller acquisitions to help with the product.

This comes as other technology companies are increasingly looking at wearable technology. Microsoft (MSFT), Google (GOOG), Samsung and others are thought to be working on their own smart watches. Nike (NKE) has been successful with its own SportWatch, but the industry is still ripe for innovation and disruption as people want their devices to do more.

Speculation surrounding the iWatch has been in overdrive recently, as the company has been filing patents around the world. CEO Cook has also fueled the fire, saying recently that wearable devices are something of interest. "The whole sensor field is going to explode," Cook said during the D11 technology conference with Kara Swisher and Walt Mossberg. "It's a little all over the place right now. With the arc of time, it will become clearer."

Cook also noted that the wrist is particularly interesting. "The wrist is interesting," Apple's CEO said. "You still have to convince people it is worth wearing."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs