Apple Inc. (AAPL) Facing Great Expectations for New iPhone?

As Apple Inc. (NASDAQ:AAPL) ramps up for its iPhone 5 launch event at 1 p.m. Eastern time Wednesday, it has a gained a lot of gype and very lofty expectations about potential sales surrounding the new device. But while the anticipation may lead to dramatic sales numbers, does the iPhone 5 have to be cutting-edge to take control of the marketplace in the long-term, or does the brand name do enough?

With other companies revealing their new smartphones in recent days and weeks, and several of them releasing some new features or hardware technology to try to gain an upper hand on Apple Inc. (NASDAQ:AAPL), there may be some who feel that for Apple to take control of the marketplace, it might have to prove its innovation and inventiveness over the rest of the competition – not just have a flashy new design and the iconic Apple logo.

However, it seems that analysts believe Apple Inc. (NASDAQ:AAPL) may sell 10 to 12 million iPhones in the first month after release, new tech breakthroughs be damned. After that time, however, it may seem that for the iPhone to have any lasting effect on the marketplace, it might have to offer some features above and beyond what’s already been leaked – a more powerful battery and processor, thinner design and LTE capability.

However, since the original Apple Inc. (NASDAQ:AAPL) iPhone turned the smartphone world on its head five years ago, the innovations in the smartphone universe have been coming fast and furious, and the competitors have advanced in significant ways. So what will the iPhone 5 have that can set it apart from the smartphones that have already been revealed in recent days and weeks? The logo will go only so far – it will be about features and innovations that will lead Apple’s sales past the first few days’ honeymoon period.

Based on how big Apple Inc. (NASDAQ:AAPL) has become and the reputation it has developed as an innovator, chances are Apple iPhone 5 might have to not only meet the expectations and hype that have been generated – it might have to exceed them to truly take over the smartphone market from Google Inc. (NASDAQ:GOOG) and its Android operating system.

This iPhone launch by Apple Inc. (NASDAQ:AAPL) will be something that will be watched closely by techies and investors like hedge-fund manager Julian Robertson of Tiger Management.