Wall Street Watch Monday: It's Still All About the iPhone 5

iphone 5
iphone 5

If you figured that all of the hype leading to last Wednesday's unveiling of Apple's (AAPL) new iPhone was over, you've got another week coming.

The party continues for the world's most valuable company, which just happened to get even more valuable after racing to new all-time highs on Friday.

The Apple-centric events to watch for this week begin on Wednesday when Apple makes iOS 6 available to existing iPhone, iPad, and iPod Touch owners. Apple's new operating system introduces the company's in-house mapping feature, integrates Facebook across various functions, and makes Siri better.

Now asking Siri about a certain pro sports game will bring back the box score. Searching for fine dining in the area can lead to making a reservation through OpenTable (OPEN). Movie tickets? Not a problem. Siri can seal the deal as a better functioning digital assistant. Apple is also introducing Passbook, a new feature that stores online coupons, boarding passes, reservations, and even some gift cards.

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Of course the big day will be Friday when the iPhone 5 is available at stores.
The new slightly larger phone has already sold out of its initial pre-orders through most outlets, but folks are still going to find their way to area Apple Store locations to secure the smartphones that aren't reserved.

You can expect plenty of media following the frenzy. Then things should settle down on the Apple front the following week.

Other Things Worth Watching

• CarMax (KMX) runs the country's largest chain of used car showrooms. The dealer's haggle-free pricing and car-buying services have made it popular with drivers looking for affordable yet well-maintained secondhand cars and trucks. CarMax reports on Thursday, giving the market a good indication on how the auto resale market is holding up.

• Investors looking to take the pulse of Corporate America should keep an eye on three companies that will be reporting quarterly results in the week ahead. Cintas (CTAS) is the leading provider of company uniforms. Herman Miller (MLHR) and Steelcase (SCS) specialize in office furniture and workplace essentials. If companies are hiring again -- and if companies are spending again -- you should see that show up in those financial reports.

Motley Fool contributor Rick Munarriz does not own shares in any of the stocks in this article. The Motley Fool owns shares of Apple. Motley Fool newsletter services have recommended buying shares of Cintas and Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple.