Investors get iPhone 5, wait for Fed

Apple finally gave the world a look at the iPhone 5. Its frame: thinner; screen: bigger; battery life: longer; and speed: faster. Analysts expect the fifth version of the popular phone to sell between 10 million to 12 million units this month alone. So far Apple has sold more than 243 million iPhones since its debut back in 2007, but the competition is coming on hard and fast.

The iPhone 5 alone is not enough to beat back the growing field of rivals, but the Apple eco-system with iTunes, apps, and the iPad can't be beat, says Scott Sutherland of Wedbush Securities, and that's why he likes the stock.

"That is an ecosystem that is still ripe to upsell additional devices, upgrade people's devices and continue the momentum for Apple and I think that's why I'd focus on those ecosystem metrics of iCloud and iTunes and how it's going to lead to additional device sales for phones, music players but also things like a mini iPad, or regular iPads or even an Apple TV that would be tied to this."

No clues on a speculated iPad mini or Apple TV - but the stock climbed anyway.

Europe focused on Germany's top court which gave the green light for the country to participate in a euro zone bailout fund. Shares were modestly higher in Germany and France, but down in the UK.

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