The first "computer" watches were pretty basic by today's standards, but they launched a concept that has never been fulfilled. The idea of wearing your gadgets is something that was promised by James Bond, Michael Knight, and most recently Google, but Apple might finally deliver with the rumored iWatch.

Employees at Apple told Bloomberg that it's well beyond the concept phase, even beyond the experimental phase with around 100 product designers working on a wearable piece of tech that can do many of the things that the iPhone and iPad do today. A rumor like this couldn't have come at a better time.

Chief Executive Officer Tim Cook is facing pressure from shareholders who have seen the stock slump more than 30 percent since a September high amid slowing sales growth and competition from rivals such as Samsung Electronics Co. Without a revolutionary new gadget that commands a higher price, investors are concerned about falling margins and increased competition.