Apple's New iPhone 3G[S] - Boom or Boring?

Research In Motion's somewhat disappointing Q2 earnings report may be taking a back seat to Apple's new iPhone launch (maybe thankfully for RIM). The past two launches by Apple were met with not only incredible media hype, but incredibly long lines at AT&T and Apple stores worldwide. So what about today's launch of the new "3G S"? Does the "S" stand for Speedy processor or just Short wait to get one? Barrons noted in the Tech Trader Daily column that there was barely any wait at all with only 50 phones being sold: Barrons Article Reuters also reported a similar story of smaller crowds: Reuters Article Silicon Alley Insider has also posted photos of people around the world who have queued up for the new 3G S and also noted smaller lines: Silicon Alley Article Perhaps the main difference between this version and the past two introductions is that the 3G S just has a few nicer-to-have features but not necessarily enough to warrant the existing 2G and 3G user base to pitch a tent at their local AT&T store. If anything, you would think people who don't have an iPhone yet would want to wait to get the prior 3G model for the low $99 intro price. The success of the new iPhone and the new price for the old iPhone will remain to be seen. From SmarTrend's persepctive, we continue to see shares of Apple in a bullish price pattern as the 30 and 50 day moving averages continue to slope upward. After the monster move from our uptrend call on March 13th, the stock paused briefly in in early May and we resumed our uptrend call on May 27th. The downtrend call on May 13th was protective in nature as you never know when a 7% retrace can become a 40% or 50% drop like we saw late last year. Let your winners run but dont let losses mount. You can always get back in. [caption id="attachment_57" align="alignleft" width="600" caption="SmarTrend AAPL Chart"]SmarTrend AAPL Chart[/caption]