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Rotten Apple: World Expects iPhone 5, Gets iPhone 4S

| by Mark Berman Opposing Views

Apple's big announcements are always highly anticipated in the tech world. Tuesday's was extra significant because it featured new CEO Tim Cook, who took over for iconic ailing co-founder Steve Jobs, and because everybody was expecting the unveiling of an all-new revamped iPhone 5. Instead, we got an updated iPhone 4.

Called the iPhone 4s, it is pretty much the same as its predecessor except it is much faster and has a higher quality camera. There are other minor updates as well. While it is still an impressive gadget, it's not what anybody was expecting.

Investors were clearly not impressed, though, sending Apple stock plummeting as much as $18 per share during the trading session before finishing down $2.10 on double the usual volume.