Apple shares continue slide on iPod nano screen issues

“Apple Computer Inc. shares fell more than 4% Wednesday when the company said it would replace units of its new iPod nano, after complaints that screens on the tiny portable music players are prone to cracking and scratching,” Rex Crum reports for MarketWatch. “Apple shares fell $2.56 to $50.88 in afternoon trading on volume that was nearly double the three-month daily average. Earlier, the shares touched $50.70… Apple CEO Steve Jobs took a calculated risk by replacing the best-selling iPod model, called the mini, with an even smaller device. Apple is touting the nano’s small size in its marketing campaign, a move that could backfire if the product acquires a reputation for fragility.”

Full article here.

Apple shares currently stand at $50.77, down $2.67, a loss of 5.00%, on heavy volume of 30,134,454.

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25 Comments

  1. Ride my seesaw. Thats the way things go in stockland. It’ll go up again, don’t sweat it. The people that throw their stocks away at the first sign of a (imagined) problem are just nervous little fidgets.

    mw: develop as in monkeyboys mantra lol.

  2. The stupidity of the – mainly – American investor.

    Apple is likely to lose a massive $400,000 replacing the defective iPod nano units, I reckon around 0.1% of 2 million units = 2000 units @ (let’s say) $200.

    And the market has bailed to the tune of around $1.75 billion according to my loose mental arithmetic.

    Sounds like a buying opportunity to me.

  3. * Problem affected a tiny faction of a percent of buyers

    * Problem already solved and won’t affect any more buyers

    * Replaced for free for those affected

    * Apple responded quickly in identifying the flawed component and keeping the public informed–kudos

    * Only a fraction of shoppers heard about the rumored problem anyway

    * Apple was going to sell every player they could crank out no matter what, anyway

    * The reviews are great

    * The holiday shopping season hasn’t even hit yet

    * So…. wait for it! …Apple is doomed! ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

  4. This is another buying opportunity. People who are selling on this news deserve to get ridden out of town (the stock trading kind). Well, that just leaves more for the rest of us.

    But it just goes to show the state of “journalism” in this country, when the press acts to perpetuate and inflate practically non-existant issues as if they were verified, widespread fact. It’s funny to see the press rely on the “other guy” to do the verification and assume when something is published, it must be true. Then they go around contratulating themselves for being “on top of the story.” What a joke!

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