Ho-Hum but Humming Right Along

Apple's product announcements attract widespread news coverage, and the iPhone 5 launch on September 12th was its biggest ever.

It has become impossible recently for Apple to keep key details under wraps. Because every move by the company, its largest suppliers, and partners is being scrutinized, tech observers have been able to make educated guesses about features and components of the iPhone 5 long before the official announcement. In fact many were let down, in part because their clever detective work removed the element of surprise.

But I'm not disappointed. The i5 is bigger, faster, and lighter than the 4S, without apparent diminution of battery life. The i5 is not revolutionary in the sense that a car that cruises easily at 200 MPH and gets 30 MPG is only an "evolutionary" improvement over a 100 MPH / 30 MPG vehicle. (IMHO, the "R" designation should be used sparingly anyway---for the first iPhone, iPad, and iPod.) So I'm going to get an iPhone 5.

Apparently, investors weren't disappointed either. Apple's share price declined for days leading up to September 12th--even through the first hour of the announcement--but then picked up when it dawned on everyone that the iPhone 5 would begin shipping on September 21st. The quarter will be better than analysts had previously forecasted because of the earlier-than-expected shipment of millions of new iPhones. Apple hasn't entirely lost its capacity to surprise.

[Update - 9/14: opening orders were so strong at midnight that delivery wait time is now two weeks (from one).]

AAPL hit an all-time high today (admittedly helped by the Fed's announcement of QE3).