iPhone 4S launch comments from JMP Securities analyst added to this update.
BOSTON (TheStreet) -- Apple (AAPL) took 15 months to bring a new iPhone public, longer than usual. Perhaps the company should have waited and saved new CEO Tim Cook from the embarrassment of trying to sell consumers on the underwhelming iPhone 4S.
To escape the shadow of former CEO Steve Jobs, Cook needed to be flawless on stage Tuesday in his first major presentation as head of Apple. While Cook's performance was solid and other key executives shared the spotlight, this wasn't the best time for the newly crowned king of all gadget companies to be thrown to the lions.
|Apple CEO Tim Cook speaks at the Oct. 4 event, which introduced the new iPhone 4S.|
Wow, such a disappointment ... 15 months it took to come out with 4S FAIL!!! I'm going to Verizon now and buying 4 droids with 4G and selling my Apple stuff! I am anticipating riots, gang wars, and much violence because of this lackluster announcement. Who would NOW want to buy a 4S when we know the 5 will be released sometime later?For investors, the reaction to the iPhone 4S should be worrisome. To be sure, Apple is going to sell plenty of iPhone 4S handsets. The improved camera, faster processor, and new voice-recognition feature will be enough to persuade consumers to upgrade. Mike Abramsky, an analyst at RBC Capital Markets, says he expects a similar surprising uptake like that of the iPhone 3GS; Abramsky's iPhone forecast remains at 110 million for fiscal 2012, a 48% increase from a year earlier, with 27 million sold in Apple's first fiscal quarter.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV