What You Need to Know Ahead of Today's Apple Event - Bloomberg

Jon erlichman is there.

He is live right now from cupertino, california.

It is very early there, john.

Excitement has to be building already.

Thanks for joining me this early.

With all the great reporting from bloomberg west, all the speculation and leaks, what exactly do we know?

Sara, this is a very iphone focused day.

If you're thinking about wristwatches or tvs are apple's next big thing this is probably not the event for it or does that really matter when the iphone is such an important product for this company?

Just to reiterate what we are expecting.

We are expecting one not one but two iphones to be announced today.

The next version of the iphone 5 , maybe a fingerprint sensor.

They are expected to unveil a lower price new iphone, something they have never done before and has raised a lot of questions about whether or not apple is shifting its strategy, what does it mean for the brand?

There are just as many people who say apple should've done this a long time ago because the market dynamics are changing quickly in places like china.

Apple is facing a lot of competition from samsung.

John, of course this is hardware we are talking about.

Any word on ios seven.

That will help push people to upgrade their phones as well.

Apple already gave us a taste of what that new software would look like.

You raise a good point, if we know that the software changes going to dramatic -- is going to be germanic enough, maybe they don't have to offer as many bells and whistles.

In the next couple of weeks no doubt they will be rolling out that new software.

John, the high- end cupertino is 97 degrees.

What is making tim cook sweat heard he is not steve jobs.

He has to go out and do the dog and pony for the true believers.

What is making tim cook sweat this morning?

When we think of steve jobs versus tim cook, yes, steve jobs , product innovator, no one can deny that.

But he too was a businessman and he too would've seen the opportunity in a market like china.

Tim cook has visited china many times in the last two years.

The company generates something like $4.9 billion in revenue last quarter from greater china, i think the challenge that tim cook faces when he isn't necessarily the ultimate product man.

Sometimes he shares the stage on an event like this with the rest of the folks at apple at a time when there are a lot of rapidly growing companies in china that are creating their own fan bases around their companies.

I think that is probably the biggest challenge to make sure that the chinese consumer along with consumers everywhere are all getting on board with the apple store.

Our senior west coast

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