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Bogus Apple Rumor Hurts Stock

by Tim Stevens on May 16, 2007 at 05:16 PM

Apple iPhone"News" hit the Internet airwaves earlier today that Apple was delaying not only the hotly anticipated iPhone but also Leopard, the next update to its OS X operating system. The rumor said the iPhone, currently due in June, would actually not drop until October, and that Leopard would be pushed back to January of 2008. Within minutes Apple fans swooned, Apple's stock price dropped 2.7%, and the company's public relations team blew its lid.

Why? Because, as it turns out, the supposedly leaked memo is a fake. That dip in stock price, however, was quite real. Though a hastily delivered clarification from Apple stemmed the bleeding, it's still not back up to trading where it was this morning. This is an interesting glimpse at the current state of the world, where a bogus posting on a blog can negate a week's worth of hard-earned market gains.

From bloggingstocks

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Tags: iPhone, Leopard

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