I don’t know whether investors and consumers would see an iWatch as a great leap forward, or a disappointment, considering how much the company has hyped the possibility of selling a revolutionary TV. But Apple shares are up a modest 1.2% in afternoon trading today following reports that it’s experimenting with a device with curved glass that would be worn like a watch and could handle tasks such as phone calls or texting — and potentially a lot more. The New York Times reported, and The Wall Street Journal confirmed, that the device is very much on CEO Tim Cook’s mind. The Times says it would run Apple’s iOS operating system and could use Corning’s Willow Glass which the paper says can “flop as easily as a piece of paper in the wind without breaking.” The Journal adds that Apple has talked up the idea with a product supplier, Hon Hai Precision Industry (a/k/a Foxconn) “as part of explorations of potentially large product categories beyond the smartphone and tablet.” Beyond that there’s a lot of speculation about what an iWatch might do — including whether it might use Apple’s Siri voice application or monitor health info (such as heart rate or steps taken). Everyone seems to agree that there’s a huge opportunity for tech companies to develop wearable devices. For example, Google is experimenting with eyewear that enables users to privately see information and handle other tasks much as they would with a smartphone or tablet.