What you say would be true if, and only if, the stock market as a whole was governed strictly by people reacting to individual companies based on their individual products. As it stands, however, much of what happens in the stock market is governed by people reacting to global or national issues (e.g. fears about the Economy in Europe, a natural disaster, or worry about a second dip recession). You can gauge these things by looking a changes applied generally across the whole market, and this also happens to be the reason why someone can come on in the morning, on NPR Marketplace, and tell you why the Dow slipped 3%, or why most financial institutions slipped ~X%. And two more things. APPL is an indexed stock which subjects it to a range of trading, automated or otherwise, based solely on an index. Also, much of the trading which takes place is handled by software based on a range of conditions. Thus, AAPL can be up or down—sometimes significantly—based on a range of conditions which can have absolutely nothing to do with Apple. Thus, some understanding of market shifts as a whole, on any given day, is necessary to make judgements about how investors responded to a specific company-related event like the release of the iPhone 4GS.
This is extremely basic stuff. If you're really going to sit here and argue that gauging investor reaction to the iPhone 4GS is as simple as checking to see if the ticker is red or green, you have no business discussing the stock market.
To answer your nitpick quibble, I checked around the time I wrote (I balance this stuff with real work), and it was closer to -0.4%. And even -0.2% represents nothing positive. Relative to the NASDAQ, it's a wash.
As for Google, it rarely responds in significant degree to AAPL, so your point is useless. This could be because investors understand that Google's income comes, primarily, from sources other than Android, so even if Android were wiped off the face of the planet they would still be considering the sources which account for the majority of Google's income.
A better comparison would have been RIM, which does respond in relation to Apple announcements, and this is because the performance of the iPhone and Apple in the smartphone market has a direct impact on RIM. If you look at their stock, you can see how it adjusted around the Apple announcement, and quite positively. Again, negative investor response to the Apple iPhone 4S.
Note that the investors are, generally, idiots anyway. Any negativity today will be washed away in time as Apple, once again, smashes the negative expectations associated with their product, announces remarkable sales and profit, and lives on to complete the cycle again.
You do go on and on and on.
Adjusted around the Apple announcement? You'd better check your facts. The general upswing in the markets started right at that time... right around 2 pm... AAPL waited an hour... probably digesting the announcement. RIMM did not react to the Apple news... it reacted to the market upswing (and it was heavily oversold). Until that time RIMM was headed into the toilet with everyone else... and then it reacted today as it should on take-out rumors (ie. interest by Vodafone)[... and that may have also added to yesterday's upswing as well].
The market sees the 4S as neutral, not negative. AAPL is acting just as it should. As a matter of fact a lot of times we see selling pressure just before the quarterly... but it seems there must be some "positive" pressure keeping AAPL's head above water.
If I saw a 3% difference between AAPl and the Nasdaq, then I'd say it's negative.. but we're talking about AAPL, one of the best performing and least rewarded stocks out there today.