Apple phone, tablet and TV fail to impress investors

Wed Sep 9, 2015 11:04pm EDT
 
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By Julia Love

SAN FRANCISCO (Reuters) - Apple Inc unveiled a new TV set top box that responds to voice commands and fresh iPhones that sense the pressure of a finger tap, changes which underwhelmed many social media commenters and investors.

The new 6S and 6S Plus versions of the iPhone, Apple's biggest money maker, are the same size as the previous versions but come with a better camera, faster chips, new colors and the force-sensitive "3D Touch".

Speaking before thousands of analysts, journalists and frequently cheering Apple employees, Chief Executive Tim Cook also brought on stage an executive from onetime archrival Microsoft Corp to illustrate the business-friendly credentials of a big new iPad, the Pro.

Apple shares fell 1.9 percent to $110.15 by the close, replicating the recent history of such rollouts but also reflecting the lack of any transformative products that could jumpstart the company's sales ahead of the crucial holiday season.

Apple shares have lost an average of 0.4 percent on the day of iPhone announcements over the past three years, according to BTIG Research data.

"People love to hate Apple announcements because the expectations are so high and they can never clear that bar," said Kevin Landis, portfolio manager of the $111 million Firsthand Technology Opportunities fund, which has Apple as its second-largest position.

Twitter users seemed most impressed by the revamped Apple TV. The product, which the company long called a 'hobby' gets its own app store and will work with Siri, Apple's digital assistant.

Fewer celebrated the iPad, which some saw as too big and similar to Microsoft's Surface tablet, and new iPhones, which are outwardly identical to the enlarged smartphones which made their debut about a year ago.   Continued...

 
Phil Schiller, Senior Vice President of Worldwide Marketing at Apple Inc, speaks about the live photo capability for new iPhone 6s and iPhone 6s Plus during an Apple media event in San Francisco, California, September 9, 2015. Reuters/Beck Diefenbach