'Cool' Apple iWatch Coming Out This Year: White

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Jan. 3 (Bloomberg) -- Cantor Fitzgerald Global Head Technology Hardware and Software Brian White and Bloomberg's David Kirkpatrick discuss mobile tech and their outlook for Apple in 2014. They speak on Bloomberg Television's "Bloomberg Surveillance." White owns no Apple stock. Cantor Fitzgerald owns more than 1% of Apple stock. (Source: Bloomberg)

For a second.

Galaxy gear is a bust, isn't it?

Y will be iwatch be worth it when galaxy gear cannot get into -- i think we will see at the show -- have you seen an iwatch ? nobody has seen it.

They are so secretive.

The fit that is already cool, and it really is pretty cool.

Did you just say we will see an iwatch?

Wearable tech will be the thing this year.

But apple will make it cool.

The iwatch, three different screens -- does that mean we should not expect explosive innovation from this company anymore?

Three different screens?

How exciting is that?

Every about four years, apple comes out with a new product category.

In 2014 we believe it will be iwatch.

I want to go to the international perspective here.

The 777 is the going price target.

Based on nearly 14 times -- all the mumbo-jumbo is great, but what you say is this is the year of international for apple.

I think china is really going to break out this year.

China has about 15% of sales.

I would not be surprised if it is a quarter of their business.

Remember, 760 million subscribers.

What does the apple bloom crew get long about their international expansion?

I don't know what you are saying about it.

What they have done, it is a domestic story but they have done well overseas.

They have an ios in the car initiative.

They say that this year they will have a dozen carmakers using ios, their software, in cars, which we will all love because it is so user-friendly and well-designed.

Mercedes, jim w -- mercedes, bmw, gm are all on board.

Are they the only ones with an ecosystem?

Apple has a better ecosystem because they have better technology, but definitely google has a very good and growing software -- google plus to me is not an ecosystem.

One of the themes this year is going to be cash.

They are under a tremendous amount of pressure to return cash to investors.

How much will they return?

Carl icahn has been pushing for this $50 billion.

It has contracted 60% over the fast five years -- the past five years versus s&p. how much cash do they return under carl icahn postpone -- under carl icahn's postal?

How much cash is that on $50 billion?

He is asking $50 billion return but they are pushing back on it.

That how much -- they want to take out $50? that is why we love having you.

I think what is going to happen is you will see some kind of distribution.

Brian, your price target assumes a multiple.

If i go with the average analyst on the street, that assumes a multiple of 12.6 times.

Why will people be prepared to pay more for apple?

Is apple an average company?

We could have been asking the question the past two years.

I think the fears of them being squeezed out by competitors is over, and the return of cash argument is over because it started down that path.

Take something like 50 times revenues for twitter.

Apple is a cheap stock compared to what they are capable of doing.

Rose is great, but a real company is something that matters, and apple is the most reliable profit generator in tech.

It is a great point.

If you only grow the free cash flow two percent a year into the future, the stock is worth our price target.

But that is not very exciting, though.

To go from 533 to 770 -- that is the point i am making.

If you use conservative growth, you still get our price target.

Is apple yet a blue chip stock?

I think it is a blue-chip stock.

If it was trading at 40 per share -- i want to get you in trouble here -- it is -- is it a down component?

Ultimately -- is it a dow component?

Ultimately it could be.

They have the brand and the recognition.

You are a trooper.

Brian white from cantor fitzgerald, right around the corner.

He drove through snow banks to get here.

My agenda is to: 30 this afternoon, philadelphia and sylvania, ben bernanke, one of his final -- philadelphia, pennsylvania, ben bernanke, one of his final speeches.

About 1000 people in the major ballroom to hear him discuss his view forward as janet yellen and

This text has been automatically generated. It may not be 100% accurate.


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