If there's one rumor that's consumed tech media for the past two years, it's this one.
And no, we can't stop the rumors just yet. But let's break down the most popular ones and build what we might see from Apple sometime ... maybe ... soon.
First, the device needs a band. Next, a face of some kind. Will it be square? Circular? The latest rumors point to a rectangular design. But sizing is anyone's guess.
A Wall Street Journal article from June reported the watch would have multiple screen sizes, stretching up to 2.5 inches diagonally.
OK, so let's say it'll fall between 1.6 and 2.5 inches. Rumors have long suggested the screen could also be curved.
That's thanks to an Apple patent filed in December 2013. Although curved glass would make sense for a watch, there's no saying this patent will play a role in the final design.
One thing that seems like a sure bet is iOS 8. The iWatch would be a natural fit for the new mobile operating system thanks to its new Health app.
CEO Tim Cook and his team announced it as part of iOS 8 back in June. Although the app will initially integrate with existing fitness trackers, like the Fitbit Flex, many in the tech media saw it as an unofficial announcement the iWatch is coming. (Video via Apple, Fitbit)
Because, as we reported earlier this summer, the watch is rumored to have more than 10 sensors for health monitoring.
We're talking sensors that could track heart rate, blood pressure, hydration and possibly sleep.
And in order to do that, it's going to need a tough battery. The New York Times reported Apple has been testing alternative battery solutions, including solar. Rumors say the company's goal is a battery that can last 4 to 5 days on a single charge.
Since Apple — in true Apple form — has never really made an official announcement that it's working on the watch, many reports have looked at who's been hired to gain clues.
An early 2013 report from Bloomberg said Apple has about 100 product designers on this watch. But that was only the beginning.
Paul Deneve, former CEO of Yves Saint Laurent, was poached to work on "special projects." (Video via Bloomberg)
Members of the Nike FuelBand team jumped ship to Apple for reasons unknown.
And just in June, Apple hired the former sales director of Tag Heuer.
Not to mention a slew of sensor and health experts along the way.
Also, Los Angeles Lakers star Kobe Bryant was spotted on the Apple campus in May, fueling speculation he's one of a few pro athletes testing the iWatch.
So the stars seem to have aligned for this mythical device, right? Well, Cook has remained relatively silent over the past two years.
The most we've gotten is this quote. He was talking about Google Glass to AllThingsD when he said: "I think the wrist is interesting. I'm wearing this on my wrist. It's somewhat natural. ... You first have to convince people that something's so incredible they want to wear it."
Not exactly an official announcement. But that hasn't stopped analysts from speculating on its release date.
It's been a long-held rumor that Apple will debut the device this October.
But a KGI analyst now says, due to production challenges, "We have pushed back our estimated time of iWatch mass production from late-September to mid-/ late- November."
And that can only mean one thing: an extra month of rumors. Expect to be hearing from us again soon.