In an interview with The Telegraph, Cook hinted at a new medical product. But it probably won't be part of the Apple Watch itself.
"We don't want to put the watch through the Food and Drug Administration process," Cook said. "I wouldn't mind putting something adjacent to the watch through it, but not the watch, because it would hold us back from innovating too much, the cycles are too long.
"But you can begin to envision other things that might be adjacent to it -- maybe an app, maybe something else."
Read the full report by TheStreet's Technology Editor Chris Ciaccia on what Cook had to say and its implications for Apple.
As Ciaccia noted in his article, health care has become a key component of Apple's strategy. The Apple Watch already contains a heart rate sensor and fitness trackers. During the company's recent earnings call, Cook said he'd heard from customers who credit the Apple Watch "with saving their lives."
Also, as part of iOS 8, Apple introduced its Health app, which puts fitness, nutrition, sleep and other vital information in one place. Last year, Apple announced HealthKit, an open source software framework designed for medical and health research.
Health care is one reason TheStreet's Jim Cramer is a big fan of Apple stock.
"Apple is a health care play in tech's clothing," Cramer said last March. "Health care plays get premium multiples and have non-cyclical annuity streams."
Separately on Tuesday, Credit Suisse lowered its iPhone estimates. The firm said Apple cut up to 10% of its hardware component orders.
The analysts expect Apple to build fewer than 80 million units for the December quarter and between 55 million and 60 million units for the March quarter.
In a research note, Credit Suisse lowered its iPhone estimates for next year to 222 million from 242 million amid a "subdued" iPhone 6s and iPhone 6s Plus launch, according to CNBC. Read TheStreet's full report.
Apple shares closed at $116.73 Tuesday, down 3.2%.
Alibaba Group Holding (BABA - Get Report) shares rose by less than 1% Tuesday, closing at $81.43, as the e-commerce company enjoyed robust sales on Singles Day, China's biggest shopping day of the year. Alibaba said it passed $3 billion in sales in just 30 minutes.
What is now one of the world's largest sales events started out as an anti-Valentine's Day of sorts, created by students at Nanjing University in the 1990s.
Read this report by TheStreet's Rebecca Borison to see how Alibaba absolutely crushed it on Singles Day this year.
"Video streams free," T-Mobile CEO John Legere said Tuesday, according to Re/code. "Binge on. Start watching your shows, stop watching your data." Legere appeared at a conference in Los Angeles.
Customers will be able to stream videos on their devices without data charges. Subscribes can choose among a number of services, including "Netflix, HBO Now, HBO Go, Watch ESPN, Fox Sports and Hulu," Re/code reported.
Shares of T-Mobile, the nation's third-largest wireless carrier, closed at $37.03 Tuesday, a decline of 4%. Netflix rose by 2.6%, closing at $112.70.
The tax bill could be triggered by privately-held Dell's plan to offer EMC shareholders a tracking stock for VMware, which is majority owned by EMC, Re/code said. "Dell insiders are concerned that the creation of the tracking stock will invite scrutiny by the Internal Revenue Service."
EMC dropped by 2.3% Tuesday, closing at $25.25. VMware rose by 1.7%, finishing the day at $60.44.