This product is said to be part of Apple's strategy to advance in the smart home arena, where it has traditionally lagged behind Google and Amazon. Bloomberg reports that CEO Tim Cook has prioritized the development of this display as part of a broader push to strengthen Apple's presence in smart home technology.

The pivot from Apple Car set the stage for bigger investments in the smart home, and the initial products from that shift could be launching as soon as March according to a new rumor.

After months of speculation, juicy details—albeit rumored—about Apple's first home device finally come to light.