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When 'new & improved' isn't enough

A customer holds boxes of the new Apple iPhone 6S while waiting to check out at an Apple store in Palo Alto, Calif.
David Paul Morris | Bloomberg | Getty Images
A customer holds boxes of the new Apple iPhone 6S while waiting to check out at an Apple store in Palo Alto, Calif.

I'm calling it 'version fatigue' and I think Apple investors are beginning to show it.

Talking about Apple is starting a feel little bit like talking about another Dow component, Boeing. Both seem to make news by adding a 'new' product with subtle differences and a new number in the name. Boeing 737-800! iPhone 6! Newer, slightly better and a little faster!

Industry wonks can profess their love for the differences between the older and newer versions, but I'm guessing many consumers simply want both to work. Put simply,the changes aren't change enough.

This is no knock on Boeing. It's a fantastic company. Same with Apple, a spectacular organization that has reinvented how we communicate.

This is only my opinion, but there's been some proof in the market pudding. Over the past 12 months Apple is the worst performing stock in the Dow, losing 26% as of this writing. Investors seem bored by 6s, 6s's and thoughts of an iPhone 7. The new versions haven't moved the numbers. Apple doesn't need a longer version of the 737, it needs a Dreamliner. Captain Cook and his team need to bring us something big... and new.

On that note, and since I'm comparing stocks in the Dow, could Apple pull a "Classic Coca-Cola" and bring back the original version of iTunes? The new one is so bloated and spammy with Apple Music that I'm testing out two alternatives, Ecoute and Wondershare TunesGo. Let's put the "I" back in iTunes.

Commentary by Brian Sullivan, co-host of CNBC's "Power Lunch." Follow him on Twitter @SullyCNBC.