Today is the big day for Apple (AAPL) watchers and consumers anxious to get their hands on the next must-have device. It’s also a day of reckoning for Apple competitors like Samsung (SSNLF), Google (GOOG) and Amazon (AMZN) who have been just as anxious to discover exactly what their products will be going up against this holiday quarter and into next year.

Apple didn’t disappoint, finally taking the wraps off products that have been the subject of some of the most intense rumors and speculation for months on end.

The iPhone 6 and iWatch — or Apple Watch, as it is officially known — have been revealed.

iPhone 6 and iPhone 6 Plus

I was convinced that Apple would be releasing two iPhone 6 models: big and bigger (or smartphone and phablet), as were many other people. And Apple didn’t disappoint.

The new iPhone 6 has a 4.7-inch display, while the iPhone 6 Plus (the iPhone phablet) clocks in at 5.5-inches. Both feature what Apple is describing as a Retina HD display — that works out to slightly better than 720p for the smaller model and 1080p for the iPhone 6 Plus.

The form factor has changed significantly from the iPone 5s, with the new iPhone 6 models adopting a curved, seamless design and a thinner profile (even the iPhone 6 Plus is slimmer than any previous iPhone). They’re available in gold, silver and space gray.

Power is provided by Apple’s new A8 chip, claimed to have up to 25% greater processing power than last year’s A7 and up to 50% faster graphic performance, despite being physically smaller than the older chip.

Even though both iPhones are bigger, it appears that Apple has included a bigger battery and better power management: the iPhone 6 improves to 14 hours of talk time (from 10 hours last year) while the iPhone 6 Plus is claimed to be good for 24 hours of talk. Speaking of talking, Voice over LTE is now offered. And if you need to make a call in an area of poor cellular reception, both iPhone 6 models support Wi-Fi calling.

Apple has upgraded the camera, too. It’s still an 8MP model, but Apple says its an all-new iSight version with a new image sensor, much faster auto-focus and “Focus Pixel” technology previously limited to DSLRs. The iPhone 6 Plus adds optical image stabilization for even better photos (and video).

The iPhone 6 goes for $199 on contract while the iPhone 6 Plus is worth $299. The iPhone 5c remains as the “free” Apple phone, while the 5s drops to $99 on contract. Pre-orders start on September 12, the official launch weekend starts September 19.

Apple Pay Mobile Payments

As had been rumored in recent weeks. Apple wants to eliminate your wallet by tackling the issue of mobile payments. From competing standards to security concerns and Apple’s own apparent indifference to the issue, mobile payments have failed to live up to their potential.

Enter Apple Pay.

Apple confirmed that it’s adopting near field communications (NFC) in the iPhone 6, making the device able to communicate with the terminals already installed at many retailers. It also uses a new “Secure Element” chip and the Touch ID biometric scanner to replace your credit card at retail checkouts.

Apple already has credit card info for many people, but additional cards can be safely stored in Passbook. Apple already has a long list of major credit card companies on board, including the big three, and the service can be used at any outlet that supports contactless payments (a dozen or so stores and food chains were name-dropped).

One More Thing: The Apple Watch

In a throwback to Apple keynotes past and the late CEO Steve Jobs, Tim Cook trotted out the infamous “one more thing” slide to introduce the Apple Watch — previously referred to in rumors as the iWatch.

Unlike recent round Android Wear models like Moto 360, the Apple Watch is unapologetically square in form factor, although its edges are nicely rounded. Protected by a sheet of sapphire glass, the flexible Retina display is capable of showing off more than just notifications. It can also display photos, maps or text and the Apple Watch runs its own apps as well. It also supports Apple Pay.

The Apple Watch uses a dial on the side for navigation instead of a touch interface. Apple calls it the “Digital Crown,” but it looks like the mechanism you’d use to wind an old-school wristwatch. Naturally, it features Siri integration as well and a silent alarm. That tactic motor can also give directional feedback — telling the wearer to turn left or right.

Charging is wireless, but Apple gave no explicit numbers for battery life.

Taking aim at fitness trackers, the Apple Watch is packed with sensors, including LEDs and photosensors for measuring the wearer’s pulse and the ability to tell if they’re sitting or standing. It includes fitness, workout and activity apps.

So — when can you get it, and how much will it cost?

First, you need an iPhone (the Apple Watch is compatible with the new iPhone 6 Plus, iPhone 6 and all iPhone 5 models). Then, you have to wait until early 2015. And finally, you’ll need to save up $349 for the base model.

Sapphire Glass

Apple’s investment in GT Advanced Technologies (GTAT) was expected to pay off with the use of ultra-durable sapphire glass in its products. Apple made a big deal about the “ion-strengthened” cover on the iPhone 6 and iPhone 6 Plus, but no word about sapphire.

At least, not until the Apple Watch, where it provides the protective cover — so that investment is beginning to bear fruit.

With the new iPhone 6, will Apple really be able to move 60 million units or more during the holiday quarter as some analysts are predicting? What about the Apple Watch?

Based on an apparently massive production of the new devices, Apple seems to think it has a winning hand. According to Tech Crunch’s Matthew Panzarino, the company is shipping so many of the new devices out of Chinese factories that FedEx (FDX) and other delivery services aren’t able to meet deadlines for other customers.

With the lines already beginning outside Apple Stores, we only have 10 days to wait until the iPhone 6 launch weekend. That’s when we’re going to start seeing the sales numbers that indicate whether the iPhone 6, iPhone 6 Plus and Apple Watch are likely to be typical Apple releases — something that most competitors would kill for — or monster successes that makes AAPL stock look like a bargain at current prices.

As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.