If this is the Apple iWatch, People Will Buy it in Droves

As shares of Apple AAPL have plunged well over 30 percent in the last three months, the tech giant seems to be under increasing pressure to release something revolutionary; not just another iPad refresh. Recently, there has been increasing chatter that Apple could unveil an "iWatch" -- one blogger went so far as to put together a design of his own.

Pavel Simeonov posted his vision for an Apple iWatch on Twitter, according to technology website, Redmond Pie.

What makes Simeonov’s concept interesting, according to the website, is “the way it combines cutting-edge finesse with a logical, innovative set of features to back it up.”

Features include a full multi-touch 2.5-inch 16:9 curved IPS display that constantly checks the environment. The wearer simply has to twist his or her arm to check weather, location or to find the closest local pizza parlor.

In addition, pulse and body temperature are easily monitored and, with 4G LTE wireless connectivity and a built-in camera, mic, and speaker, wearers could Facetime friends anytime, anywhere.

Bluetooth 4.0 would allow connection to other devices and an accelerometer, gyroscope and pedometer could make the watch a training tool for athletes.

Pressure for an iWatch continues. Simeonov’s concept is the latest in a long line of iWatch wishful thinker designs.

Why would Apple care about the iWatch? One of the most thoughtful arguments comes from Piper Jaffray’s Gene Munster, who, according to a report in TechRelease, offered the following. “While we are unsure of the ultimate launch timing (likely 2014 or later), we believe that Apple will eventually introduce some type of wearable computing product.”

Munster continued, “We believe that wearable computers will ultimately be a major future trend.”

Perhaps more important is the fact that smartwatches are already available and have received a positive response. A recent CNET article discussed several including the Cookoo, Martian, Basis Science and Pebble.

Positive reaction to smartwatches already released by other companies suggests this may be an area to which Apple will want to bring its celebrated innovation and market savvy. The space seems perfect for Apple. There are already competitors but none have made a watch that the public adopts as a new piece of mainstream technology.

Despite a downgrade from Outperform to Neutral from Robert W. Baird Monday, shares of Apple still ended the day higher by more than two percent. Increasingly, technicians are pointing to Apple’s retracement of its January 2012 lows as a signal that the selloff may be coming to an end.