Apple shares dip following CEO Jobs’ Leopard-focused keynote address

“Apple Inc. Chief Executive Steve Jobs used the stage at the company’s annual developers conference Monday to show off Leopard, the up-coming version of the company’s famous operating system,” Rex Crum and Dan Gallagher report for MarketWatch.

“Jobs gave little new information about the company’s wildly anticipated iPhone, slated to go on sale in three weeks. Nor did he announce any news related to the company’s popular iPod digital music players,” Crum and Gallagher report.

“He did say that Apple has launched a new version of its Web browser software for Windows users. He also outlined a system by which independent developers can write new programs for the iPhone – though he stopped short of opening up the device’s software code for developers,” Crum and Gallagher report.

“Lack of news about the iPhone may have contributed to the weakness in Apple’s shares following Jobs’ keynote address at the company’s Worldwide Developers Conference in San Francisco,” Crum and Gallagher report.

“After concluding his speech, Apple’s shares slipped more than 3% to a low of $120.30. The stock has been on a tear of late – surging nearly 40% in the last two months on anticipation of the iPhone’s potential business,” Crum and Gallagher report. “The stock was trading up about 1% before Jobs took the stage.”

Full article here.


  1. They had to expect this after touting “top secret” features and then showing us a new finder with coverflow and a transparent dashboard with stacks… Cool features, yes, but “Top Secret?” Come on…

  2. i love the apple community…..

    the windows community gets served a crap OS for $400 and calls it the greatest thing since sliced bread. the apple community gets the best OS on earth, one reasonable price, and looks at the company and says “what, is that all you have?”

    MW: problems. as in “every 6 months the problems of the apple community become apparent….

  3. The market wants EVEN MORE news regarding the iPhone. I guess because the news so far is just not good enough? Sheesh! It’ll be the best damn device on the market – by far(!) – and that still isn’t good enough.

    And I suppose people were really wanting some new hardware announcements regarding the Mac line – but I think it should be fairly apparent that Apple wants nothing to distract from the impending release of the iPhone.

    It’s just weird that each time we have a Steve-note, so many people express so much dissapointment that every single one of their computer-related wet dreams did not become a reality all in the blink of an eye.

    Geez, what spoiled people. Apple can’t reinvent the wheel every 6 months.

  4. What more news did they want about the iPhone at a developer conference.

    The bloody thing doesn’t even start shipping for another 18 days.

    Surely you shouldn’t be allowed to buy shares until you have a functioning capacity for logic and reason.

  5. Finicky day investors with a short term vision.

    i don’t see what the fuss is about. this was supposed to showcase Leopard. Done that. They gave a little hint of iPhone. Done that.

    If anything a couple of things will now happen:
    1. they are finally committing to the Game market space. By next quarter this should result in a couple more Mac marketshare gains.
    2. Leopard is now officially on target. and Vista is now officially outdated. a half percentage point market share will result of this. Mor macs being sold.
    3.Safari on Windows. the missing link to iPhone for Windows users. It is now possible

  6. @Shen

    The problem is not Leopard, it looks awesome.. The problem is Steve already showed us 90% of it last year.. And the 10% of new stuff is hardly worth calling “Top Secret.”

  7. Stacks are pretty cool. I’m glad they’re not calling them Piles any more. Core animation was pretty amazing. I’m surprised there wasn’t more on multi-touch. Let’s see what the devs can do with all of the cores in place.

  8. Well… when your favourite shares recede – what do wise investors do? Those who old for the long term. Those who bought under at $15 before the first split and have increased their holding on a steady consistant basis?

    Those PERSONS buy the phuque outta a price drop and then sit back and enjoy the climb!!!

    Buy more!!! Time to buy yesterdays prices! ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

    mdn = persons

  9. Shen,
    when you have Steve promising “Top Secret” features and then doesn’t unveil them… of course people feel underwhelmed. (Although Time Machine backing up via Airport is cool).

    As for the stock price, that’s not the Apple Community…

  10. I loved the Leopard announcements and even the Safari announcements, whic is kind of a no brainer now that iPhone will be shipping with a full version of it. But the iPhone “announcement” was completely unnecessary, unless they were finally going to announce how much the AT&T plans were going to cost. At this point, I really dont think that AT&T will have any special plans for the iPhone. Steve should have just given us a speed-bumped iMac (maybe with the Core 2 Quad chips) and got off the stage. That would have been the better track to follow.

  11. I agree with Pete. Apple made it appear that something really big would be announced by calling them “Top Secret” features. If they market it that way, the expectations would not have been so high.

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