It seems as though the question is no longer whether Apple is developing an iWatch, but rather, will consumers wear one?
Borchardt was quick to note that many investors seemed to think the same thing about tablets, only to see exponential growth for multiple years after its introduction.
Although wearable devices now seem to be in, it's still a relatively new segment with consumer technology.But that didn't stop Cramer from saying that it will help Apple turn the corner and at least give the bulls and analysts some ammo. Right now they've pretty much got nothing. He also cited the "glut of iPhones" that appear to be oversaturating the market and that iPads and tablets are not growing at the same explosive rate as a couple of years ago. But the problem: The iWatch likely won't be available until sometime in 2014. According to Cramer, Apple needs this product now, not next year, but a new product will at least be encouraging to see. Hiring has recently accelerated, which is also a promising sign, he added. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV