Wall Street Unimpressed with New iPhone

Investors have been bracing for today’s Apple (NASDAQ: AAPL) iPhone 5 announcement. Now that the new gadget’s out, the stock is being met with widespread indifference.

After seesawing back and forth for much of the day leading up to the 1 p.m. eastern time announcement, Apple shares finished the day up only 1.4%. Just look at today’s Apple stock chart:

CEO Tim Cook and company wrapped up their presentation on the new iPhone 5 right around 3 p.m. That’s about when the stock started to fall.

You can almost see the collective “That’s it?” from investors.

So what’s the problem? The iPhone 5 offers plenty of new features including a larger display screen, a digital coupon service, a better mapping device and a longer battery life.

None of those new features managed to wow investors, however. By Apple’s cutting-edge standards, its latest iPhone innovations qualify as ho-hum. Nothing about the new phone is headline grabbing like the “Siri” feature was in the iPhone 4S.

The absence of a mini iPad may have also contributed to Wall Street’s collective yawn after today’s announcement. Rumors have been circulating that Apple will soon introduce a smaller version of its popular iPad tablet. Some thought the device would be unveiled today as part of a package deal with the new iPhone.

It was not to be. Absent a mini iPad and with no truly exciting changes to the new iPad, so far investors are treating today’s announcement as business as usual for Apple.

Published by Wyatt Investment Research at