It's official: Apple really has 100 or so product designers working on a wristwatch-like device that can perform the same functions as an iPhone and iPad, Bloomberg reports. 

Facing pressure from shareholders who saw the stock tumble more than 30% since its high in September, CEO Tim Cook is looking for ways to bolster the company's cachet with a revolutionary, must-have gadget. 

The company has yet to confirm or deny this, but the tipsters said James Foster, senior director of engineering and Achim Pantfoerder, another manager, are already on board with the project. 

Wearable electronics point the way to the future, as Google is working on "Google Glass" headsets it plans to debut in 2014, and fitness trackers from the likes of Nike can already be plucked from store shelves. And let's not forget the Pebble, which was such a hit on Kickstarter, it drew 85,000 orders before it had even been seen.  

The next frontier for wearable computing might be Machina, a line of computer-powered clothing that's geared toward DJs and producers. "When you move around in the jacket and touch sensors on the front, it sends electrical signals to your computer which turns them into music," explains Motherboard's Adam Clark Estes. "It's not going to let you peer into the future like Google Glass, but it does bear major implication from an artistic perspective." 

[via Bloomberg]

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