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Want the iPhone 5? You Can't Have It

NEW YORK ( TheStreet) -- So much for the supposedly "tepid" reaction to Apple's (AAPL - Get Report) iPhone 5.

Apple put the iPhone up for pre-order sales at 12:01 a.m. Pacific standard time, and every model of the phone has sold out already, according to Apple's Web site. Apple is working with AT&T (T), Verizon (VZ) and Sprint (S) in the United States, and these carriers listed on Apple's Web site indicate a shipping time of at least two weeks.

iPhone 5: What's New

Some tech journalists, social-media mavens and Wall Street analysts weren't impressed with the device, saying it featured nothing new that isn't already available on other smartphones. They were looking for Apple to blow them away with an all-new design or breakthrough feature. Except that's not what Apple is doing with its sixth-generation iPhone. (The iPhone 4 had two iterations.)

Apple has decided that it's pretty much perfected the look of the phone -- its glass-and-metal look stunned most people when it was released. Apple's lead product designer, Jonny Ive, noted that during a promotional video when discussing the iPhone 5: "When you think about your iPhone, it's probably the object that you use most in your life. It's the product that you have with you all the time. With this unique relationship people have with their iPhone, we take changing it really seriously. We don't to just want to make a new phone. We want to make a much better phone. iPhone 5 is the result of this approach."

Those who were looking for something "insanely great" (to borrow a phrase from Steve Jobs) were bound to be disappointed, because Apple has already given it to us. The design of the iPhone isn't going to change much for iPhone 6, 7, etc. It is what it is because Apple doesn't change things for the sake of change. The company perfects something, then sticks with it.

As Apple said in its promotion: "The best thing to happen to iPhone since the iPhone."

Interested in more on Broadcom? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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