Transcript for Big Number: Springing Forward as Apple Hosts Watch Launch Event Today
Okay. It's Monday march 9 2015 markets in new Yorker open and a big number today 349. Box. Number the starting price for Apple's widely anticipated watch now we're cutting out of the big event as Apple's inviting guests to spring forward today. As it gets ready to launch the new gadget. But is the big number. The big gamble for apple when I'm down Cutler in New York in keeping with apple tradition moments ago the retailer shutting down sales on its website ahead of the latest release to hear the tales Yahoo! finances editor at large Aaron task Aaron good Monday morning to you. So get up a lot of anticipation of today's announcement apple always making their product launches a bit of ordeal it. The question what does this thing do and wise anyone gonna wanna buy it. How that his entry question. You know I think the thing that this does is it brings. Technology to fashion at least that's what apple wants us to believe the watch has been featured on. And in Vogue Magazine and in in China's fashion magazines and at places like that and Apple's really trying to say okay we. We've got you addicted to technology now we want this to be a fashion statement as well. It's gonna do things that monitor your heart be. You know link up to some of your your apps there's our party reports of a 100000 apps being developed for the wild show. You know you can you can dream about what those apps would be and speculation that apple that some sort of music service that will link it to the watch other I don't know we're gonna hear about that today. OK all right but this is obvious in the first Smart watched the market those whose apple targeting nets on the rivals the party of god is game. Days are skeptical see you're knocking him. I'm not listen and I'm not skeptical I guess is that the I was kind of curious you know exactly what something that's gonna build it on my wrist is gonna feel that you that I can't do it might alone. Ray well. It can make a lot of things that your phone can do it out of your mobile Dick Tracy I mean I think that's the division here. Is that you can communicate with people are your wrist and then maybe even tell time Q and do some other things like monitor your health. And you know no link to iCloud I assume you leave it to do that and so you can check on your photos. And share share images and pictures and video and things of that nature. I'm I think you know really you and I that you you sound like me like why would anyone want it's been through 49 dollars which is the the low end of the watch we don't know what the high and prices going to be. Why didn't we spent three to fifty dollars for this but it's apple so there's going to be you know hundreds of thousands of people who go out and buy just because it's an apple product. The question is whether can really be a mass market product like the iPhone has proven to be right exit. And listen in on full disclosure I'm a die hard apple heads I can't exactly say that is I'm skip honest I'm just waiting to see exactly as is everyone else on an example witnessing them to do. So you and you pointed out either this is not mean 01 size fits odds of there was some other additions and other models as well hire and as well on the other try to compete with Rolex. The event that is I'm there's been some speculation the of that Apple's all. Here is the mig this watched it at compete with Rolex and other high and watches and there's all kinds of speculation about what the high end watch which is gold pleaded. Is gonna be as a 5000 dollar price point I've seen reports it's gonna be a 101000 dollar price point. And you know that that's really one of the things that a lot of people are going to be watching very closely to see when Tim Cook. And Johnny guys in the rest of the apple leadership team roll this out today is what is the cost of that high price watch and really the target there that is going to be. Obviously you know people who have spent 101000 dollars or by even 5000 dollars on a watch that's a very small number of people but. You know they are appealing to the the 1% not to Syria it states but all over the world particularly in China where they love their luxury items. I think this is going to be interest not to get you want in business and all this whole thing which you know when you try to look at a premium type of product that's being put out there that not everyone's gonna go look where that kind of goes against Apple's business strategy all along right I mean it's like. It doesn't matter if you are you know JE EZ or if you're me you can. Yeah you're gonna other how the same. Basic phone. This those going to be some it's going to be a little bit different. Well maybe you think this goes back to U Apple's origins and they were always the high price the premium brand but the gated it was they were always better. Then this year stock yield PC. And you know it was only win with iTunes. And the iPod that apple you know first remember the device that was low price that you put in everybody's hands. That paved the way for the phone which of course is his. Almost everywhere. But if you think about even with the phone it is higher price than android phone certainly an android has a bigger market share but apple has all this mind share. And I think when you're talking about fashion and wearable. Nobody really owns that market yet so Apple's got a huge opportunity here to see how far that they can take. What is really still a very you know early stage market. People are tried in of those. Estimates are all over the map how big this market be. And who better than apple with a 170 billion dollars of cash sitting on the sidelines who has the opportunity to say we're gonna take market share from the pebbles of the world. And the fit bits of the world and see how far we can push this do we know of any other top secret projects in the works right now which obviously would be top secret we do about them but I mean anything up what's cooking another isn't living get a lot of buzz lately. Read well yeah the other thing as I mentioned before is there there's still a question of what Apple's gonna do we deep which it acquired for three billion dollars last year and that there is lot of speculation that they're gonna come out with. A service to you try that take on Spotify. And another music services like that I don't know we're gonna get an announcement today the speculation is they're gonna save that. For the developers conference in the spring. But you never know they might hit that it today and could be very keen to see which shares a pandora for example do you today if apple that has anything even hinted at music service. Will elicit so apple and generals has gotten some headlines lately because being replaced replaced eighteenth he and the doubt movement from over from the NASDAQ. What's it mean then for the company. Well it it's really the Dow the people who put the doubt together are kindly to the party here but it's confirmation. Of whatever pretty else is known for years. That apple is the most powerful the most influential and now by far the largest market cap company. Adam in America certainly among public companies. And so this is really confirmation of something it's been really fifteen years in the making. And I don't know that I would be too much into it other than to note. That companies that when they get added to the Dow they typically don't perform as well as they have in the years leading up to when they get out to the Dow. And White House has not been performing in just finally answers last week. Yeah I mean the stock's been performing phenomenally well over any time period you want to look at a one year five years three months six months. Question of course though for investors as where's it gonna go from here. And the statistics show that when it coming it's added to the Dow attends to outperform over the thirty days after the announcement. But then over the next year it would take to underperform with the overall market judged by the S&P 500 so. I'm not saying sell apple that this is it but it's something that it apple investors who katic phenomenal run should be aware. Pastor alliance Aaron thank system is already. You can keep up with electric earnings news.com election big number and then are New York.
This transcript has been automatically generated and may not be 100% accurate.