The long anticipated Apple iPhone has just been revealed this hour... During Steve Job's speach, he more or less mocked Blackberry and other technologies relative to the capabilities of the new iphone. The iPhone also features no buttons - it's all touch screen, which is pretty cool.

Also, Apple dropped "Computer" from its name. Over the last hour, the company's share price has increased 8%

Apple decribes the iPhone as follows, "The iPhone combines three products â€" a revolutionary mobile phone, a widescreen iPod with touch controls, and a breakthrough Internet communications device with desktop-class email, web browsing, maps, and searching â€" into one small and lightweight handheld device. iPhone also introduces an entirely new user interface based on a large multi-touch display and pioneering new software, letting you control everything with just your fingers. So it ushers in an era of software power and sophistication never before seen in a mobile device, completely redefining what you can do on a mobile phone."

Check out our cool Apple iPhone Video HERE.

Here's what it can do:

WIDESCREEN IPOD - iPhone is a widescreen iPod with touch controls that lets you enjoy all your content â€" including music, audiobooks, videos, TV shows, and movies â€" on a beautiful 3.5-inch widescreen display. It also lets you sync your content from the iTunes library on your PC or Mac. And then you can access it all with just the touch of a finger.

REVOLITIONARY PHONE - iPhone is a revolutionary new mobile phone that allows you to make a call by simply pointing your finger at a name or number in your address book, a favorites list, or a call log. It also automatically syncs all your contacts from a PC, Mac, or Internet service. And it lets you select and listen to voicemail messages in whatever order you want â€" just like email.

BREAKTHROUGH INTERNET DEVICE - iPhone features a rich HTML email client and Safari â€" the most advanced web browser ever on a portable device â€" which automatically syncs bookmarks from your PC or Mac. Safari also includes built-in Google and Yahoo! search. iPhone is fully multi-tasking, so you can read a web page while downloading your email in the background over Wi-Fi or EDGE.

MULTI-TOUCH INTERFACE - iPhone features the most revolutionary user interface since the mouse. It's an entirely new interface based on a large multi-touch display and innovative new software that lets you control everything using only your fingers. So you can glide through albums with Cover Flow, flip through photos and email them with a touch, or zoom in and out on a section of a web page â€" all by simply using iPhone's multi-touch display.