even more rewarding. ink from chase. so you can. we start with breaking news here. i want to get straight out to carl quintanilla. what are we hearing, carl? >> tim cook on stage uttered the words one more thing to huge applause inside the flint center here and now we have it. the apple watch is a square watch with a metal band and apparently other bands, as well. stainless steel. a sapphire screen. a rotating dial. after laying out two new

iphones, the iphone 6 and the iphone 6 plus, a new camera, a payment system called apple pay, this apparently is apple's first new product category under tim cook's leadership for sure and definitely in the past four years. more details as we get them. >> indeed. thank you very much for that, carl. we'll keep on dipping in with you for more on what's on cupertino. i have steve liesman with me on what people are calling the first truly important product launch in the post-jobs era. >> or the goldilocks iphone announcement. papa and mama and baby iphone. carl, you still there? carl? >> i'm still here, steve. >> yeah. is this a fashion thing or a functional thing the watch on the wrist? >> so far, cook has just charactcharact charact

characterized it as the next chapter in the story. we'll work through it in a moment. clearly the fact of a new product at all is news for apple. this is a completely different supply chain. although i might add the stock really popped on the payments news and highs of the day. settled back just a bit. in a world, steve, where the iphone is expected to saturated in a couple of years, ipods are going to museums, this is a big new piece of the apple story. >> here's the thing, though. a lot of people have been saying, a watch is great. however, it's not a must have item. we have video of the apple watch. we're just getting it in now. what we know now about what's going on with the apple watch, here we go. okay. >> mandy, if you're looking for a christmas present for me -- >> i would like an apple watch. i don't currently wear a watch. >> we'll see it in a second. >> rectangular with rounded

corners. >> can i put diamonds on it? >> diamond encrusted would be the watch for the girl who has everything. quickly rep cap for us, carl, what we know about this apple watch that's being announced. >> well, obviously, you guy cans see the video. you are looking at essentially a metal bond and told there might be some other bands involved. a square face. you might remember that motorola brought out a round face earlier in the week. stainless steel. a sapphire screen that rotating dial face and interestingly because citi put out a report in the past couple of days asking people what it takes for people to buy a smartwatch. people said i want it the look like a watch with a clock face. so they're responding to the market in that sense. but clearly, it's going to dovetail with the story they just told about payments which by the way, the product called apple pay, working with six major u.s. backs.

american express, visa, mastercard and more than that, guys, big retailers. bloomingdale's macy's, subway, mcdonald's, whole foods. not just getting the retailers on board but a world of high frequency transactions that's going to bring the consumer on board and obviously a drugstore, a fast food restaurant. that's where you will go with a high degree of frequency. >> looks like jobs is delivering today. we're up 3%, 2.99% still just off the highs in the wake of the watch announcement. mandy, any reason to think of why the watch -- obviously expected. the iwatch and both part of the expectation. >> buy the rumor and sell the news and perspective nonetheless really only a couple of bucks off the intraday record high set on the 2nd of september and it was $103.74. >> to your point, mandy, it was 100 when the event started and selloff just ahead of it and then you had buyers coming in who likes what cook and the

other executives said at this meeting. there was a whole list of people who came up there and spoke today and introduced the products and it seemed like it -- they buried the news a little bit. as you went on it occurred to me the momentum gathered of what was different and new about this new series of products and at first if all you're telling me is this is a size thing, i was less excited and then functionality, it's more interesting to me. >> when it comes to the iphone, sekrety of apple had perhaps is gone and the leaked pictures. >> a lot of talk about this. >> the iphone 6 and really the product category that people put a lot of hopes on at the moment thinking that we have driven the stock up by about 25% so far this year and whether or not they can significantly create new revenue streams for apple to take the stock to the next level. we have tim cook there on the stage as you can see. the special event of ap until

cupertino. currently talking about the apple watch. we're going to get more details. he is wearing one right now. let's bring in the panel and talk about it. what we have heard from this event. two new iphones, apple pay, apple watch. we have peter chafkin and andrew mcafee. gentlemen, really great to have you with us today. first of all, i would like to get to you, channing, being an apple shareholder here. i noted into the event today you would not be adding to any of your holdings. you wouldn't be buying the stock unless you see something that really grabs you. something of significance. have you heard that thing? >> capital advisers, we haven't. the expectations of a bigger phone model, we got that. an iwatch, we got that. an introduction of mobile

payments, we got that. we feel that a lot of good news is priced into this. we expect a big iphone launch. the question for us is, what's the revenue expectation and earnings expectation for the iwatch and the payment system? we think that's going to take a long time to develop. we also think that iwatch is a niche market, not a massive option market. >> andrew mcafee, author of "the second age." you are a big think guy on this panel. take a step back, go to 40,000 feet and what can you tell looking at what you know now about the pace of innovation at apple, have they kept pace with the torrid run they were on where they introduced new things like the ipad and then the iphone? or is this incremental in your mind? >> it's too early to answer that question but let's keep in mind this is the company that turned a technology product launch into a mass media event and a nationwide or worldwide frenzy.

this is a phenomenally interesting and important and innovative company. i can't wait to get my hands on the products and try them out and see how big a deal they're going to be. >> i know you academics want months and months to study but the market is making decisions right now, andrew. we know about -- it's apple pay the name of it? >> that's right. >> we know about the better camera. the question becomes whether or not this is something that causes people to really make a replacement. it is a replacement question right now, isn't it? >> well, and the phone market, the smartphone market always driven by the replacement cycle. i imagine a lot of people interested to have a phone that does 244 frame per second slo mo in hd and eliminate the hassle of payments. you know, i think it's another phenomenal device. how big a break is it from what they have done before? time will tell. >> talking to you, peter, if apple does manage to completely nail the payments how big a deal

is this? how much of a revenue stream could it be for apple? i understand a tech and marketing challenge trying to get people to essentially throw away the plastic and go over to their system. >> i think that's the first question before you get to revenue, are people going to use this? ap wl a demo video showing how difficult to use a credit card. in my livestream, the people on snickering. that said, if they get people to start using this, it's a big deal for apple. i don't think they'll generate a lot of revenue to this. what it does is start paying for everything with the iphone, it is that much more difficult to get rid of the iphone and move to an android device or anything else on the market and locking people in the ecosystem that's the big upside for apple. >> peter, what about other competitors and affected here? apple is not the only stock in this space and people are interested in. quh you think about the effect of samsung and other companies that are out there, what kind of

knock-on effect do you see here positive or negative? >> i'm not sure it's gok to hurt other people. if this stuff works, i don't think the watch is a huge market right now. they have to convince people to wear a watch but getting them wearing a watch, people using the phones for payment, this strengthens apple rather than hurting other folks. >> you can see the bottom of the screen watching the show at the moment that there's going to be siri capabilities on the watch. steve, sort of voiced dictation technology. again, as peter was saying. you got to make this, some of the people want. a watch is not a must have necessary item but something cool like siri, the voice dictation technology, apparently a flexible display. the cool things that are built into it, as well. makes it not just a fashion item but a want item. >> andrew, this question here, what mandy was getting at. what are you looking for in a

product that makes it something that goes beyond just a nice thing to have and really apple's crossed the threshold and makes it into a must have item. >> look. that's the alchemy and i remember when the ipad was introduced. there was a chorus of boo'g, particularly from geeky communities saying nobody wants this. doesn't solve any problem out there in the world. and hundreds of millions of units later, we all know that the tablet is a real addition to the computing scene. is this watch going to be the same thing? again, way too early to tell. it looks gorgeous and cool from what i see but, again, there's no company that has done a better job of articulating needs we didn't know we had. than apple. >> channing, we have been hearing all about these fantastic product launches but beyond that, as a shareholder in apple, what more do you want? it's got a cash pile. short long term investments of

$165 billion. what do you want to see them do? for example, like, i don't know, acquisitions perhaps. >> yeah. you know, one thing to look at is that cash, most of that's international. about 84%, 85%. peter made a lot of great points. we see an enormous launch for the iphone. you have samsung, they came out with a dud. you have a huge replacement cycle. 300 to 400 million units out there that are over 2 years old. so you're going to see an enormous upgrade cycle. carriers are becoming less string gent with the upgrades and we think that the iphone is enormous. you have to look at as a shareholder is ipads seen two consecutive quarters of decline. 18% of the revenues so if you tart to see that, where does apple make up the difference here? we think that the iphones take some heat off of that but we don't see iwatches or the payments making up the

difference for what could be a continued decline in i pads. we like where the stock is and maybe 10% to 12% upside. >> maybe you don't need ipads anymore, right? already transplanting pcs in other countries. >> right. >> let's go to carl quintanilla. what are you hearing, carl in terms of what's happening at the event? >> mandy, some more color on the watch. apparently it will have some voice dictation element, ala siri. calling it a timepiece and health and fitness device. flexible display. an s1 chip. a gyroscope. sapphire display and measure a pulse rate. i think one reason you're seeing skepticism of channing or others is economics of the watch really not well-known at this point and i might also point out they're dropping the i. the payment product is apple

pay. it's the apple watch. might be tim cook putting his signature on that, guys. >> okay. we'll keep on dropping in and finding out what more is happening at the special apple event taking live until its very end. okay. we'll take a very quick break. do stick with us. we're digging in further on the payment wars, special edition of "street signs" will be right back. whenwork with equity experts

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we are still watching what's happening in response to the apple watch and apple iphone 6 announcement. watching shares of ebay specifically. see there just off session lows down by 1.5% in trading. it is in reaction to apple's new apple pay payment system. remember that ebay has its own paypal payment system. they could be rivals. once apple fully launches them. ebay shares reacting negatively so far. >> let's go -- hang on a second. come back to you in a second. let's go to carl quintanilla with more details. >> getting a couple more details on the watch, the apple watch, steve. one is it's going to come in a couple of different sizes and three different models sort to speak. there's a steel model, a sporty aluminum model and a gold metal which is going to be encased in 18 karat gold. someone loon twitter watch that straps about to become the new phone cases. that's the latest on the watches

and first new category in four years. >> waterproof, carl? he can't hear me. i'm a fisherman. they went to the gold but not the diamond encrusted. dom, are you there? let's get back to the ebay story. how big a threat is this to ebay in this paypal business to be perhaps taken over by apple. >> that is battleground, all of them trying to get a piece of the pie here. kayla is reporting right now at the barclays financial conference, there were comments about the idea of payment systems and saying they're excited about apple pay and opportunities for chase, also that apple pay on e-commerce and that the bank itself chase developing its own e-wallet in several months and just an idea everybody wants a piece of this. the idea that apple is partnering with certain payment

to make it available and compatible with certain apps, certain vendors like a target. they highlighted that in the presentation. that's a big deal and remember it's all because this new payment security feature at the forefront for people shopping with these types of payment systems and not just traditional credit cards anymore but that extra layer, that fingerprint or the voice or the something that's going to make it more secure, guys. >> bio metric identification. morn the impact in two second and i want to mention something, steve. to be able to have the watch, you have to have the phone and all about what apple does to have devices that kind of talk to each other so it really wraps you into the apple e cosystem and brings you into the fold. >> that's a euphemism for apple's plan to control the world. >> it is apple's plan to control the world. >> that is what we're talking about. >> dong a pretty good job at achieving that goal. >> talking about controlling the world, now more on the impact of apple pay with mosha orenbach.

let's talk about this. how big a thing could this become? becoming the normal way that people pay? rival credit cards? >> well, keep in mind that the apple pay is funded by credit cards and the transactions are likely to be going over a credit card so that's for starters. i think you have to figure out which wallet or wallets -- >> hold on. i didn't understand that. explain what you're talking about. i have an iphone. >> correct. >> or an iphone 6 i guess. can't be a 5? >> yeah. >> okay. so it's a 6. and then i what? i scan it or something at a point of scale? >> you can either use the credit card that's already linked to your iphones account or take a picture of another credit card of one of the partners that apple kind of noted up there. they noted six major credit card companies that account for over 80% of the credit card volume. apple is not replacing the credit card. it is skimming off some of the

revenue it seems. >> which players do you think are the most negatively affected? i saw going into the event you had an under perform on amex feeling that the ability to negotiate could negatively impact the stock. >> right. amex is successful with what it calls the spend centric model and putting that at risk is negative and put them at the top of the list. >> this is an overlay on top of the existing system. be clear. not an advancement in the payment system about which there's lot of discussion which is separate from this. is that right? >> right. what it does allow you is a different way to pay. apple kind of put the -- it's stamp on both that bio metric authorization. the nfc payment and also, you

know, the idea that this data is stored and not shared with the merchant but stored at apple. >> the payment system folks is the pipeline of cash moves back and forth. one more question. if this ends up being skimming from the credit card revenues, what about the effect on ebay and paypal? >> well, you have to see. i mean, as someone noted earlier, it is a competitive in terms of online elements of ebay but ebay has not been, you know, paypal is not as successful in the offline world yet. this is a mobile payment solution where i think they seem to be ahead of the curve of other payments. what you have to see is if it is adopted by consumers and used. >> almost a week doesn't go by of another retailer or company with a massive credit card data breach. my biggest question with this particular apple pay is, what kind of security do we know that

it has and how goodwill it be? >> right. so what we know, what i know right now, i should say, is that they're making a big deal of the fact credit card data is not stored on the phone or shared with the merchant or see your security code and making a big deal about that. i assume, therefore, that the data's stored on apple's servers and should have better protection but anywhere there's concentrated credit card data, that attracts hackers and something that will be a challenge for them i guess. >> thanks very much. >> great. >> we'll check in with you as the story goes by. a lot to figure out how it changes the landscape. >> that's right. >> a ripple or a wave in the payment system. >> payment system is something that's up for big change. it is lagged behind the front end. what people see. the back end is still old, creeky pipes and i have done a lot of reporting on this. it's still ancient systems of the way we used to do stuff and ripe for the change. this is not a change on the back end but the front end.

>> no company yet is really absolutely cracked the digital watt let. right? >> that's true. >> whether or not apple can do it, it remains to be seen. >> i was at a conference and a guy said how many of you have credit cards in the pocket? he said that's the sign that the mobile payment system failed. if you still have plastic, it is not working on digital. >> coming to innovation with apple, not necessarily about the first in a product category but being the best completely transforming the consumer experience and so maybe you might be able to do this. we'll have to keep on watching. next, the entire world is watching the big event. we have a whole lot more ahead when the special event returns. we've created tax free zones throughout the state. and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax free for 10 years. no property tax. no business tax. and no sales tax.

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and drive forward with broader possibilities. cme group: how the world advances. welcome back to "street signs" and the coverage of apple's unveiling of the apple watch in cupertino. a square design with a metal band or several types of bands. a steel case, aluminum case, a 18 karat gold case. not stand alone device by any measure. you need an iphone to operate the apple watch. the question is, what kind of

iphone? that's apparently still coming. phone call notifications. siri built in. gyroscope and sensors that tell how you're moving on four different parameters. with that, the stock unlike previous launches, guys, trading to the upside right now. >> carl, take a step back here. one of the greatest media hype events since pharaoh and the sphinx here. meeting expectations? >> it is the biggest technology company in the world. they have proven their prowess so i think they probably deserve the freedom to hype it as they wish. but clearly, when they do that, they're going to get blowback. i would argue had they not announced the iwatch today, we would have been talking about

big, broad disappointment, but they did deliver. >> there's the rotating of the rectangular iwatch. the apple watch anyway. as we saw a moment ago, multiple colors, color for pretty much everybody. let's bring in jon forte now at a big mobile conference in las vegas. what is going on over there? >> reporter: well, everybody is anticipating this announcement because apple is in a unique position and not only a huge brand, not only a wealthy company to afford to do just about anything it wants but tends to lead trends in the wireless industry. interestingly here with watches, apple's competitors out with these before. as you know, i'm following apple for a long time and look at the apple watchment i have to say this is apple's riskiest product launch since the newton. part of the reason why this is so risky is this watch introduces a lot of different new ways to interact with it.

a lot of new user interface elements on a really small device. the crown to turn. a tap and press hard and does one thing. a long press, does another. you can swipe. you can talk to it. you can't type on it. so people who are used to using other devices can't use it intuitively and a learning curve. it's apple's challenge and better positioned than most to do it to teach people why they want to use this. turn by turn directions on it and really nice. photos of favorited on the iphone to appear on the watch which is nice but there is a lot of risk involved in this announcement. i think it's the biggest risk in a long time. >> jon, i'll be a guy. i carry a smartphone. i carry an ipad. give me one thing this thing is going to do for me that i need an apple watch. one thing. >> need is such a strong word. i've got to --

>> one thing, jon. >> i'm thinking the same thing. the presentation isn't over. i haven't picked up the watch. they haven't explained the battery life. i don't think we're in the position to explain the one thing. they're still explaining what things this does. but at this size, relying on siri and supposed to be able to respond with emojis or voice dictation. if that's the main interface with this watch, boy, it is risky. apple's got to deliver on software and services to make it work. i don't think you should expect huge volume right out of the gate because you need an iphone to use it. >> courtney reagan, a bit of a fashion plate herself, maybe second to mandy or tied, i don't want to go there, she says i think the intel opening ceremony bracelet watch is prettier. give me leather and gemstones over an inspector gadget watch any day. >> ouch. touche. i think if they want to take it

to the next level, they will have to be a little bit more fashionable. >> i know nothing about fashion. look at jon without the tie and himself. >> you need the iphone. i don't want to carry multiple devices. i want one device and maybe it's the watch but if i also have to have the phone, what's the point? >> glen lowry is new ceo of at&t mobility. he's been dealing with apple on mobility issues for nine years. we had him exclusively earlier. he said he thinks it's essential in the future to be standalone wireless devices and probably a direction that apple wants to go in. we'll see if they actually go there. the ipod in a way never did get there. but i think if you were to expecting this watch to be a device that everyone whether they were on an iphone or android to be able to get or had to have, maybe your expectations were too high, this is something

that will evolve over time. this is something where there's going to be a learning curve. not an obvious, oh, well -- this is something to evolve over time. this is something where there's a learning curve. >> record highs. >> we don't know what it's going to do or cost. but hey, everybody needs one. >> yeah. we'll now see. >> thank you, jonathan. we'll check back as the show goes on. should you be buying apple today? other than the watch and the phone, we are talking numbers on the stock when this special edition of "street signs" ireturns. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price,

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that corporate trial by fire when every slacker gets his due. and yet, there's someone around the office who hasn't had a performance review in a while. someone whose poor performance is slowing down the entire organization. i'm looking at you phone company dsl. go to comcastbusiness.com/ checkyourspeed. if we can't offer faster speeds or save you money we'll give you $150. comcast business built for business. welcome back to this special edition of "street signs." let's hear from josh lipton inside the apple event and i believe, josh, this is the first chance we have had to speak to you since you just walked out. i really want to know. what was it like in there? what was the vibe? >> it was really pretty amazing,

mandy. you saw this kind of rush to get inside. you walked into this auditorium. at least a couple thousand people. tremendous amount of energy, of enthusiasm. it felt like a rock show at certain points and tim cook took the stage. he introduced, remember, he made a promise to enter the new product category and made good on the promise when the category. tremendous energy inside that auditorium, mandy. >> your face is red and just come off the mountain. and you've been inside, tell me, do you think that the reality of what was introduced met the hype of what was expected of the people down at the bottom of the mountain? >> i think that usually the leaks when we get up to these apple events, steve, usually pretty good and what we have seen so far is meeting the

expectations. the iphone we got two sizes. that was expected. it's faster. it's an improved camera. real emphasis on that camera i would point out. phil on stage talking about some of the functions of that camera. slo mo camera and drew aahs from the crowd. and then of course the watch, tremendous excitement for that. a new product category altogether. kind of walking us through, also. johnny was giving a narrative of the watch. had a design at apple. walking you through not only important of innovation with the watch, the dial, you might think of a traditional dial and it was this sort of cool way to navigate through and cool kind of navigation cool. different collections they ran through, stainless steel, sport, a 18 karat gold edition and still waiting on the price here. again, looks like, steve, the leaks that we were seeing as we

often do pretty cles on what we have seen so far today. >> desire, need and want here and apple mansioned to confuse for all of us in our minds. i imagine you have the 5s, josh. when you saw what you saw on the screen inside there, was all you could think, i need to ditch the 5s and get the 6 right now? >> well, you know, steve, so let me answer your question this way. you know, if you felt you needed a bigger screen, that's what apple's delivered. if you wanted a faster phone, it's what apple delivered. a phone with a better camera, apple delivered it. price point at $199 and $299. more importantly what remember all the people out there who bought these phones, 220 million sold in the previous 6 quarters and getting a very small percentage of those people to think they do need to upgrade, we are talking low single digits here, that's a serious and

significant financial impact for apple. >> we have heard a lot of people hanging out for this so hopefully there's all that pent-up demand. we are also just hearing that the apple watch, steve, has a calorie burning counter. i love that. >> why are you telling me that? >> watch yourself burning calories. nothing to do with you, steve. are you feeling, i don't know, sensitive about the issue? >> i am. >> thank you so much, josh. josh lipton. we'll hopefully get back to him. he just got out of the special event with all the oohs and aahs. we want to look at the stock of ap frlple from a technical perspective. andrew berkeley. guys. great to see you. andrew, what have you thought so far and what does it mean fundamentally going forward for the stock and a stone's throw away from record highs? >> we like it. we like apple. a core holding here. you know, it's a garp name.

consumer technology. we are bullish on the overall market and definitely something for the portfolio. obviously, as the dividend characteristics, the big cash on the balance sheet certainly can increase that shareholder friendly activity. so it's amazing going back a year, two big concerns were losing market share, potentially to the bigger phones which, you know, now competing in and also having more share holding activity. >> i don't mean to be rude. we are getting details on pricing here. of the watch. josh lipton, what are we hearing? >> yeah. mandy, we were waiting here now for the price which we're just getting. this watch starts at $349. also, remember. make the watch compatible, have the phone. which phones? looks like the 5s, 5c, 6 and 6 plus and available in early 2015. back to you. >> early 2015. we are hanging out for it.

they'll miss the christmas and holiday period. >> that's within your budget for me? >> 2015. we'll miss your christmas present. you get a late present. i believe fossil and a competitor is down over 3% at this stage. some of the other stocks, steve, watching move to the downside on the back of apple's various announcements, ebay, sonus and more. rich ross, let's get back to you on the technical side. the charts for apple. what does it do from here? >> opinioning are like iphones today, everyone has more. i prefer the charts. from a purely technical standpoint, i would be a better seller on today's news. look. we go back to last year's announcement. we know about the poor performance of the 5s and 5c and up 55% for them. that's $200 billion in market cap like adding a facebook over the last 12 months and you can see in the middle of the year,

it gets real interesting. we get that breakaway gap and we're up 33% from there. we have held that 50-day moving average. that's the level you want to key off of. that comes in $97. i wouldn't be surprised to see a break below the $97 level for a confirmed short term sell signal for a move down to around $90 and better support come in. that's 10% down from current levels. i think we get that here once again in this business. we buy the mystery and we sell the history. and that's what we have here today on this announcement. once again with the stock into the $100 level back around the all-time high. $600 billion market cap. nasdaq composite in shouting distance of an all-time monthly high. you want to be trimming profits if you're lucky enough to have them. >> thank you. i want to look at the chart of fossil which is as mandy said down north of 3%. bob pisani noting fossil among

the stocks down on the apple news. ebay, sonus, universal display, pixel works and gt advanced technology all five of those with a report on the stocks all, mandy, affected negatively by the apple announcement today. >> more details and very quickly to reiterate, the apple watch will not only be available in early 2015 but work with the 5s, 5c, a 5, 6, and 6 plus. >> i hope your husband is watching this. >> as you can see, my watch broke recently. i'm in desperate need of one and the pricing tarting at $349 and i don't think is completely untoward for -- >> within the budget. within the budget. >> for a present. okay. up next, hopping in our apple time machine to see the real i pact of the big product launches, what the stock does

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take a look at shares of apple stock right now. definitely off the high there. can you see that, steve? we spiked right up and like $2 away from the intraday record high and definitely come off the highs of the day and still 1% higher. however, let's put a little context into this and take a look at what apple has done historically following the product release. the chart you can see here shows apple stock performance following the debut of new ipods and iphones. you can see the stock hardly moves in the first few months following a new release but takes off in the six months and full year after the product launch. >> with the hype of this event, if apple breaks even today it is a huge success because there's so much expectation. it's got to be so hard to deliver and i think talking with the panel in a second, the pace of innovation which is so hard to maintain once you introduce a

new product line to keep innovating that product and keep to the expectations of wall street. apple breaking even is a win here for my opinion. >> okay. let's get back to the panel. joining us now, peter caffrey -- also an apple shareholder. once again, gentlemen, thank you for standing by. andrew, why don't i get to you on the apple watch? we have been scratching our heads here. not available until early next year. how negative is it that it is not available for the big holiday selling season? >> that sounds right but apple probably feels that it's more important to get it right than to get it out there fast. i think that's the right decision. we have been thinking for a long time that the device when we talk about computing is going to recede into the background and not lugging these big, bulky things and taking them out to

have to do anything or accomplish all of our tasks. maybe this apple watch is the next step forward and how we're going to interact with computing devices. smaller, less intrusive, allow us to do some new things. i can't wait to see how this plays out. >> i want to pick up on mandy's question here. i have seen covering the economic data as i do apple products move the national data. for example, when the ipad was introduced you had a surge in electronic sales in retail sales in the whole country. could you imagine people holding off in some christmas purchases in order to wait until january? they can buy the apple watch. scott? >> do we have scott? maybe not. >> maybe not. >> we can go to peter instead. >> i don't think apple -- i don't think it's ideal for apple to announce a product you can't

buy this christmas. you can say maybe that new iphone and pair with an apple watch next year. clearly selling it by christmas they would have done it and i assume will's a manufacturing difficulty that slows the process down. >> okay. we have scott again? do we have scott? >> hi, can you hear me? >> okay. great. we have you, sir. okay. what have you heard today that moves the needle for apple stock? >> well, you know, mandy, it's interesting. you mentioned earlier about the spike that happened as the event started and as it progressed. and really, we saw the falloff just as apple i think started to talk about the iwatch and people were getting really excited and then guess what. you need the iphone to use the iwatch. and more details to come. but i think that's kind of disapointing to some people because you're talking about a $349 product that won't be available until early next year and won't be usable unless you

have an iphone. that limits the market opportunity at least over the near term we think. >> andrew, you are one of the great futurists out there. you talked about the idea of the device in the background. gook l glass, not so wonderfully received in the marketplace. how far can we go here? >> we have no idea how far we could go and we don't know if the future is going to be screen that is are at the corner of our eye and or device that is are on our wrist or both. this is what makes this time so exciting. and over the next couple of years, we are going to see devices morph a lot it feels like to me. >> give me the craziest idea you have seen out there in terms of where it can go. >> i like the noncrazy idea of this thing on my wrist for a read on whether or not i'm being healthy. i think its ability to do that improves over time and i like this idea of a helper in the background who's letting me make choices and lead a healthier life and, you know, get out of

my chair and stop staring at the screen all day. >> andrew, thanks very much. i don't know if we thank our panel right now? >> for the moment. the prediction to break even for the apple stock today is almost coming true. only up by .6% right now. when the event started at 1:00 p.m., the stock at $100 a share. >> right. >> currently at 98 or 99.12. it is moving a little bit. >> up on the day when the market is down so that's also something to factor? >> absolutely. coming up next, it is back out to apple hq. more on the big day and what we have learned so far with the apple product launch. stick with us. so ally bank really has no hidden fees on savings accounts? that's right. it's just that i'm worried about you know "hidden things..." ok, why's that?

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>> i, steve, did not hear anything about waterproof. but as my producer has pointed out, you can get a waterproof cass owe for 19 bucks. if that's important to you, there are options. i'll point it out to you. we heard that u2 would be performing and bono and the edge have taken the stage. a long relationship of apple and u2. jobs and bono were good friends and apparently the new album "songs of innocence" will be given away from itunes. >> thank you so much, josh lipton. steve, thank you so much for standing in for brian sullivan today on this special day. thank you for joining us. hope to see you same time tomorrow. happy trading.

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and a free 30-tablet trial. welcome to "the closing bell." >> we'll of course continue coverage of apple's big product event and more reaction. plus, ahead, these stories. is the fed ready to move on interest rates sooner than the market bargained for? steve liesman with a report of the policy statement to change as soon as next week. which could jolt the stock market showing weakness this week. and two special guests coming up after the bell toda