Shortly after noon Chicago time, the market started to get weak as the new and improved products were announced, except nothing was new. As for improved? WHAT WOULD IT BE THIS YEAR? For another $1,200 do we get the color orange? Do we get a 4th....9th, camera? Do we get an extra 3 mm larger screen? Oh, the suspense was killing me, and neophytes to the game ran the stock $3 higher in anticipation.
As we slowly heard what the product of 12,000 of AAPL's most brilliant engineers were going to come up with, dad's pull my finger joke started to get old by the 6th year and the stock started to fall back to the unchanged line. Seriously? Twelve-thousand people can't come up with anything 5% as creative as what Steve Jobs use to churn out every year after a mushroom trip to Burning Man?
Darwin was wrong, or Tim Cook hires people void of imagination. Nothing was new, and using the term improved is almost an abuse of the word “improved”. Sure, the new iWatch will be taking O2 levels, but none of the 12,000 over-paid geniuses came up with that. Hospitals do it all the time, and other companies make products that do it. Just buy the technology.
Stratagem can give free ECG's at their seminars, but that doesn't mean we invented the technology. Nor does it mean people will come to our seminar because of it.
At the end of the day, AAPL had fallen for a high of 118.89 to a low of 115.79, before bouncing back to close about unchanged. Actually....that is a win for AAPL as they have fared worse in recent years with their “lipstick on a pig” trick.