Apple unveiled the iPhone 5 yesterday but, despite a host of improvements, tons of leaks already revealed what Tim Cook and his team had in store. As such, we weren’t very surprised or blown away by the event. It turns out we weren’t the only ones, since Wall Street executives are beginning to sound off on their own opinions of the event.
‘There is not a wow factor because everything you saw [yesterday] is evolutionary,” CEO of Destination Wealth Management Michael Yoshikami told Reuters in an report published Thursday. “I do think they did enough to satisfy,” he added. We’re in agreement with Yoshikami on his evolutionary statement: Apple tossed in 4G LTE support and created a new, thinner smartphone with longer battery life, but it didn’t have anything up its sleeves that appeared to be particularly revolutionary. The display, perhaps, is a nice touch. Apple says it’s the best on the market, although those claims remain untested at this point. So what does Apple need to do to “wow” analysts? The iPad mini launch could do just that.
“We would really like to see the iPad mini in the product offering for the all-important holiday quarter,” co-manager of Capital Advisors Growth Fund Channing Smith told Reuters. “They still have time. As soon as we see that, we will have more conviction about the stock heading into the final quarter.”
Other analysts, such as Sterne Agee’s Shaw Wu, raised sales predictions for the iPhone during the September quarter. Wu also lowered his iPad sales predictions, however, in anticipation of the iPad mini launch.