Apple

Along with the name change, Apple unveiled a cool new gadget that does just about everything save for washing underwear and toasting bread. I am very happy with the result for a couple reasons:

1. It will rock the market- As soon as I saw it I ran to see what RIMM (Blackberry) stock was doing. Sure enough it shed a good 11 points on the day. That's almost 8% of its total value! The iPhone does make the Blackberry look a little bit lot out-dated. The iPhone interface is so much smoother and the software will allow for upgrades which the Blackberry will need to employ in its hardwear, i.e. requiring one to buy a whole new device.

2. It is not that good- While it is about the coolest looking thing to come around in a while, it is not that good. It can't sync with Outlook, its price point is a bit high and the capacity is tiny. The iPod started out at 5gb and it is now up to 80, so progress will come in time. It also means that my 5G iPod has not moved from cool to junk in the course of an hour. You will not be able to hold all your music on the new iPhone so it will not be able to replace the 5G for a few more years. Innovation can tend to piss people off that way by making one feel a bit slow. At least this way I can still feel up-to-date for a little while longer.

Well the Street seemed to like it. The dip at about 12:15 EST today was for the announcement of the Apple TV and the subsequent rise occurred when Jobs announced the phone. AAPL never looked back (although not reaching its 52 wk high either, funny enough). As far as all the whining on Macforums over the iPhone many posts have referenced the iconic Thread 500. What is thread 500? It was the Macforums thread after the iPod was released. 133 positives to 173 negatives. Mac people were upset about the iPod! The same little gizmo that transformed Apple's market cap. It just shows how silly even people who are technically savy can often be.