Apple Falls Victim to Its Own Hype Cycle

There are millions of people who are in the market for an iPhone, but are holding off on buying one because they believe Apple will introduce a new iteration this fall.

That's probably a good decision. Apple is all but certain to announce an iPhone 5 (though there's a good chance they won't call it that) as early as September. You'd have to be a fool to buy an iPhone 4S when the next-generation model was coming in just a few weeks.

Such a predicament isn't unique to Apple. In the auto industry, everyone knows that the new models arrive in September, so the best time to buy a car is around Labor Day, when dealers are eager to clear the old models from the lots.

But Apple's re…
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