AllThingsD:

Though it might seem more incremental upgrade than new iPhone, Wall Street analysts say Apple’s iPhone 4S isn’t nearly the disappointment that some claim. And while its unveiling without the simultaneous debut of the iPhone 5 caused investors some knee-jerk dismay, consensus seems to be that it will likely prove another big step forward for the device and the platform on which it runs.

John Paczkowski digs into what analysts actually said about the iPhone 4S yesterday, and while some offer comments to support news coverage expressing disappointment with the lack of a complete case overhaul, more complete commentary from analysts like Mark Moskowitz reveal that even they think the under-the-hood enhancements will be a big deal for Apple customers.