Apple (AAPL) Conference Disappoints Investors

Not much for investors to get excited about at Apple's conference

   

Stocks started the week with a buoyant step on Monday, and there was a lot of hopeful anticipation about a developer’s conference thrown by Apple (AAPL), in which investors and consumers alike were expecting to see some amazing new products and major upgrades to current products.

Yet, the S&P 500 stalled at the 1,650 level and chopped around for the rest of the session. And Apple’s announcements seemed to lack their prior sparkle. The company that kicked off the smartphone and mobile communications revolution has not been able to keep up with the innovation wildfire that it sparked. Product announcements that once dazzled seem very “me-too.”

The company’s new mobile operating system, iOS 7, at first glance looks nice and has a lot of features that Apple customers will appreciate. But it appears very incremental rather than revolutionary, and basically helps Apple software catch up with innovations that are already standard in the Android systems of its arch competitor Google (GOOG).

Also, its proposed Internet radio service seems like a Pandora clone. Its new Macintosh desktop and laptop products seem like an after-thought. The laptop market is still important to Apple and the rest of the computing world, but as they become increasingly commoditized, prices are falling and margins are compressing. Basically, these are developments that are good for consumers but not necessarily good for investors.

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