Re-assessment

Techies yawned, and AAPL plunged after its Sept 10th iPhone 5S announcement.

Apple's September 10th iPhone announcement was underwhelming to commentators who expected the new iPhones (the 5S and 5C) to come up with revolutionary methods to slice bread or trap mice. The second disappointment was the failure to announce a highly anticipated deal with China Mobile, China's largest cellphone network. But it doesn't appear that there will be a third strike.

Analysts who have had time to test the phones, especially the 5S, are beginning to sing their praise. Walt Mossberg, WSJ:

the new iPhone 5S is a delight. Its hardware and software make it the best smartphone on the market.

Anick Jesdanun, AP Technology Writer:

When I got my hands on Apple's new iPhone 5S, one of the first things I tried was a feature that allows you to bypass the passcode using a fingerprint. I had a lot of fun unlocking the phone over and over again. Who knew biometric authentication could be such a blast?

The fingerprint sensor alone is worth the extra $100 you'll pay for the 5S over an iPhone 5C. Both phones will come out Friday. In the week I've had with both, I've also been impressed with the better camera and slow-motion video in the 5S.

Myriam Joire, Engadget:

Is the 5s the best iPhone ever made? Yes, though that shouldn't come as a surprise. Apple took a good product and made it better through hardware upgrades, new features and a completely revamped software.

In the days ahead we'll see if the stock price reflects this re-assessment. As an Apple investor, I hope that it will.