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Apple investors say 'ho hum' to new product launches

Shareholders weren't exactly wowed by details of the updates to Apple's iPhone, iPad, Apple TV and Watch.

Apple investors view the company's product announcements as the signal to buy or sell its stock. Apple

Maybe they were bored. Maybe just unimpressed.

For whatever reason, Apple's investors responded with the financial equivalent of a giant yawn after CEO Tim Cook unveiled updates to the iPhone, Apple TV, Apple Watch and iPad. Shares fell almost 2 percent to $110.12 after Apple's event in San Francisco ended Wednesday on a day that saw stock prices decline across the board.

Investors have been eager to see if the new products will once again fuel the tech giant's growth. The Cupertino, California-based company's product launches are particularly important when they include new iPhones, such as the updated iPhone 6S and iPhone 6S Plus. Apple's smartphone lineup now accounts for roughly two-thirds of the company's revenue.

But most of the improvements to Apple's products could be summed up as "incremental." The smartphones are faster and sport a new pressure-sensitive display. With its Apple TV streaming media box, Apple essentially catches up with rival offerings from Google, Amazon and Roku. And the biggest news about the iPad Pro, besides its 12.9-inch screen, is the tablet's optional "smart keyboard," which also functions as a cover, and Apple Pencil stylus.

Interestingly, the pencil goes against the stance of company's late cofounder, Steve Jobs, who criticized the technology when he announced the original iPhone in 2007. "Who wants a stylus? Nobody wants a stylus. So, let's not use a stylus." said Jobs at the time, complaining about how annoying they are.

"It's not unreasonable to wonder whether iPad add-ons like a $169 smart keyboard and a $99 'Apple Pencil' mark the signs of a company a little too desperate to maintain its absurd margins at any and all costs," said John Divine, an analyst with

Apple said during its third-quarter report in July that the company's gross margin was nearly 40 percent. The gross margin refers to the amount of money a company gets from sales after subtracting the cost of building and selling a product.

While Apple shares have fallen roughly 17 percent since mid-July, it still ranks as the world's most valuable company, with a market capitalization of nearly $639 billion. Investors have been waiting to hear what the company will offer to juice sales again in time for the holiday buying season. Search engine giant Google is the next most valuable company, with a $425 billion market cap.

Updated at 3:55 p.m. PT with analyst comment.Click here to see all of today's Apple news.