Grasping Reality by Brad DeLong

...Both were introduced as three things in one.... An iPod, a phone, and an ‘Internet communicator’.... A watch, a ‘new way to connect with each other’, and a health and fitness companion.... Loosely, the path of all consumer electronic categories is to evolve as ever more computer-y gadgets, until a tipping point occurs and they turn into ever more gadget-y genuine computers.... Apple seemingly tries to enter... just after that tipping point--when Moore’s Law and... engineering and manufacturing prowess allow them to produce a gadget-y computer that the computer-y gadgets from the established market leaders cannot compete with. That was the iPod. That was the iPhone. That, they hope, is Apple Watch...

http://daringfireball.net/2015/04/the_apple_watch