“The stock dropped about $4.46, or 1.73%, today after Consumer Reports issued an unfavorable review of the new iPhone 4, citing reception problems depending on how the device is held,” Brennan reports. “The thumbs-down was viewed as so severe that some have talked of a product recall.”
Brennan reports, “However, Cramer doubted that would happen. He said it was likely that Apple would issue free Bumpers, or fitted guards for the phone, that seem to help with the reception problem. Plus, iPhone sales were exceptionally strong before the Consumer Reports announcement, he said, so the media might be blowing the problem out of proportion. Therefore, he’s still bullish on Apple.”
Full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]