Just like the rest of us, every now and then a tech company needs change. While we might go and get a new haircut or buy some new clothes, the tech equivalent is to think up a brand new toy. Think of Google Inc (NASDAQ:GOOG) CEO Sergey Brin riding around the New York subway with a pair of Google Inc (NASDAQ:GOOG) glasses, beaming with childlike excitement over his company’s latest invention.
Now, a couple other tech greats have revealed plans for unexpected new gadgets. It could either mean the companies are restless for something new, that larger forces are threatening to fundamentally alter their business models, or both.
Siri will look great on your wrist
Whether you’re a bull or a bear about its business, you can’t deny that Apple Inc. (NASDAQ:AAPL) has created tech wizardry that has revolutionized basically every industry it set its mind to — whether computers, music, or phones. With its stock price at a startling low of $467, this company is out to prove yet again that it can dominate any market it chooses.
The latest rumor in the Apple Inc. (NASDAQ:AAPL) mill is that the tech great will soon be setting its sights on the world of watches. The “iWatch” is the company’s first attempt at creating wearable technology, and while its exact uses have not been revealed, the product will be capable of many of the same tasks as an iPhone or iPad. Apple Inc. (NASDAQ:AAPL) is so gung-ho on the idea, in fact, that it has assembled a team of 100 designers to set to work on it.
Is this the next great idea, or a misstep? Only time will tell. In the meantime, even though Apple’s price might be lagging lately, it still has well over $100 billion in its cash coffers. This money could be an ample safety net, should Apple Inc. (NASDAQ:AAPL) choose to dip into these reserves for this new product. If the iWatch makes the same unexpected splash as the iPod, it could lead to a big payoff on a risky venture. And Apple, of course, is no stranger to taking a risk.
Intel Corporation (NASDAQ:INTC) Inside… your TV
Apple Inc. (NASDAQ:AAPL)‘s not the only one looking to test its merits in a new industry. Intel , once the darling of the microchip market, announced this week that it would be expanding its product line into the realm of web TV. At the recent D: Dive into Media conference held by tech zine AllThingsD, Intel corporate vice president Erik Huggers announced that the company has been working for almost a year to create Intel Media. Thus far, the group is an amalgamation of former Apple, Netflix, Inc. (NASDAQ:NFLX), and Google Inc (NASDAQ:GOOG) employees who are setting their minds to work on a new kind of Internet television platform.