Apple Underwhelms With iPhone 4S – Shares Dip Five Percent

Apple today unveiled the companies latest generation of its iPhone, featuring a faster processing chip, better camera, improved wireless connectivity and voice-command capability. The new device, dubbed the iPhone 4S, will be priced at $199 for a 16 gigabyte version, $299 for 32 gigabytes and $399 for 64 gigabytes, along with a two-year contract from either AT&T, Verizon or Sprint. Many were expecting Apple launch of a brand new iPhone that is not the iPhone 5. It appears shareholders also feel that way as shares of Apple dropped more than 5% at one point after the press conference announcing the iPhone 4S concluded. We have to agree with Apple fans though as it would have been nice to see more than an iPhone 4 update!