The iPhone 5 is not about innovation. It is more about revenues, sales and profit.
Apple Inc.(NASDAQ:AAPL) Chief Executive Tim Cook is no Steve Jobs with a vision to change the world. He also has no aspirations in that direction. He is a man who has a job to make the best smartphone in the world and make sure that he is giving customers what they need.
And that is exactly what the new iPhone from Apple sets out to do.
Apple unveiled its new iPhone on September 12 and though it lacked any innovative features, it was still well received by the tech community.
The faster processor, higher download speeds from 4G networks, an upgraded software are all enough for the company to grow its revenues for the next few years.
But does this mean that Apple has stopped innovating?
That question should have been asked when Apple launched the iPhone 4S, which was just a souped-up iPhone 4 with Siri as an added attraction.
So to ask this question about innovation at this juncture may not be appropriate. What stands out very glaringly is that the new iPhone is a very efficient, useful and powerful smartphone and quite equipped take on the competition from rival handset makers.
Apple shares rose to a life high of $696.98 in Friday's trading session. In the past three months the shares have risen by about a fifth, while in 2012 so far the stock has gained more than 70 percent.
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From an investor point of view what we have to look at is - is the stock capable of generating returns even at these levels?
Yes, if we go by what the analysts have been predicting. Many of them have predicted that the new iPhone is capable of selling 10 million units by the end of the month.
The devices are expected to be on store shelves from September 21.
As has been reported widely, pre-orders of the iPhone 5 on several sites hit their limits and delivery times had to be pushed back by several weeks.
You can gauge the response from that.