As the most valuable company in the world, Apple is flush with cash. The company’s global sales grow every year, led by the hugely popular iPhone (Apple has sold more than 700 million phones since it launched in 2007). So, even if the Watch isn’t as popular, Apple’s finances will be just fine. The company’s stock price could falter, but it’s hard to imagine investors staying away for long.

Still, Apple can’t grow forever on iPhones and MacBooks alone, and iPad sales already are stagnant. To maintain dynamic growth, the company needs diehards and regular consumers alike to buy stuff as often as possible—and it must have new, diverse options available, not just upgrades. Apple already has shown interest in expanding into new consumer goods, as with its acquisition last year of Beats—a move meant to correct the colossal failure of iTunes Radio. But headphones and music streaming aren’t the same as a new flagship device to drive the kind of massive growth shareholders have come to expect as a given from Apple.

Even if Apple’s growth isn’t immediately stunted, the company has invested years of research and resources into the Watch. Within the company, the hit to morale would be huge. Jony Ive, Apple’s senior vice president of design, has been dreaming of the Watch since 2011. His team has spent nearly four years designing it, developing the technology, and creating its many customizable options.