They haven't held back this much up to this point. As many have commented, the recent presentation was among Apple's most ho-hum ever.
Fair point with respect to processor and RAM (but honestly an octo-core phone- this thing isn't calculating lunar orbit insertions...). That aside, look at the other aspects of the phone: NFC, camera megapixels and screen resolution, Apple doesn't chase these. It makes additions at its own pace based on what it believes works. The 8 megapixel camera they've used the past few years has been consistently a top performer despite being "behind the times."
This failed theory went out with the six or seventh incarnation of the hardware combined with trying to keep everything compatible with the iPads.
Since UHD Blu-ray discs aren't available yet, it seems important not to miss out on the one format that is widely available: streaming UHD.
The wonks have been claiming this for well over a year. With all of the leaks, the announcements seem to be more confirmation of the downside.
Wall Street is idiotic. The stock downturn since May makes zero sense when you realize that apple is projected to make $1 Billion per week this year. Find me a company that matches that and then explain to me how on earth Apple can logically have such a low P/E ratio. $200 is on the high side, but there's no doubt in my mind that $114 undervalues the stock. It's part of the reason I hold it in my portfolio.
