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.

65 Comments

  1. “Finicky day investors with a short term vision. “

    They have a long term vision, Steve sold them much more in that vision. So when Apple disappoints, the stock goes down.

    “the 10% of new stuff is hardly worth calling “Top Secret.””

    What about the of the words “reality Distortion Field” is unfamiliar to you?

    “Its Safari running on windows.!!! “

    Just getting you ready for Mac OS XI Vista. Wait for iLife on Windows next, followed by an announcement that Leopard is the last of it’s kind.

    “This is another Trojan horse”

    Yes, another Apple app migrated to Windows. One less reason for Mac OS X to exist.

  2. Everybody was so afraid of Apple ditching the Mac, and here’s a keynote about nothing but OS X, and we hear things like ‘underwhelmed.’ Come on! This is an interesting comment on just how much Apple has grown as a company over the last several years. I remember when the G4 announcement was enough to make everybody slaver. Can you imagine how people would have been raving if there was something like spaces or time machine back then?

  3. Playin’ Stupid wrote:

    “The Airport backup thing makes me queasy – wireless backup with no corruption? Better stay off the wireless phone and shut off the microwave.”
    did u ever, even once, get corrupted data over WIFI ?
    i doubt it, either the data is send/received succesfully, or the transaction fails (after a few retries with long timeouts)
    backing up over airport is just as reliable as over firewire, or to your local disk, that’s just how TCP/IP works.
    and, even if u loose your connection, the part of the file that was supposed to be sent, will be sent again at the next opportunity.

    mingy stingy wrote:

    “I was expecting a holographic emitter for true 3D graphics”

    what about a 3D OS, where every button, every window, text, is REAL 3D ?
    would u like that ?, i hope so.

    a new OS that gets rid of applications and documents completely, replaced by tools (pencil, paint, text etc), materials (paper..), shapes (spheres, cubes, lines, etc…) and more complex object like a spreadsheet, a house, a garden, a mailbox, a stereo to play music, or anything else that anybody can think off and share with other users.
    a new OS that works with 3D screens (with or without special glasses), or on any “old” 2D screen, resolution independent, no bitmaps, just objects.
    a new OS where u can mix any type of data together, a web page + a spreadsheet + some paint tools, that allows u to invite people to join u in a document to work together.
    a new OS that knows who changed what, and when, and allows you to undo changes made by a person, or all changes made to an object.
    a new OS that is completely extensible, anyone can create new tools, materials, or more complex objects made by combining basic objects.

    leggo ?

  4. People who complain about AAPL tanking are STUPID. Me, I’d just buy more. $125 was a great price. $120 even better. Go to $100, see if I care. Let’s see what the price is in 3 years.

    Keynote disappointing? By FAR this was one of the most entertaining keynotes ever. Apple is about more than just the tools. It’s the culture. Why else do we evangelize? Resistance is futile!

    Safari on Windows is huge, or are you too stupid to see why? It’s freakin’ FAST! Makes up for time lost using other parts of Windows. I’m getting much faster page loads on my XP at work. And how else you gonna prototype for iPhone? Duh.

    Anyway, see y’all on the other side of $300 a share.

  5. I, for one am even more sold on Leopard. The new finder looks great, the desktop looks cool and Time Machine looks even more useful. Not to mention the back to mac sharing functionality and the myriad of other minor changes that we’ll see throughout the system. People are acting as if that’s it, there will be changes to virtually every app, they just chose to show these. It’s the little things that will really make the system.

  6. This drop in price was predictable.

    In fact, someone did predict it: Laura Goldman of LSG Capital, from Tel Aviv, Israel.

    On May 21, 2007, she put a sell rating on AAPL, and almost everyone in this forum, from MDN on down, dismissed or poured derision on her and her rating.

    Now we can see that Ms. Goldman wasn’t an idiot. You may disagree with her rating, i.e. you may decide to hold your shares instead of selling.

    But Ms. Goldman wasn’t, and isn’t, an idiot. Nor are all the other professionals who have been pointing out the “sell the news” reaction that was waiting in the wings.

    The equity market is a harsh mistress and is unforgiving of mistakes. People who are consistently wrong tend not to last very long. Ms. Goldman has a long (20+ year) history in the industry, and that speaks for itself.

  7. No more Macworlds or WWDCs for me. Although Mr. Jobs seemingly makes an effort to make these historical events work, not only did he inherit these events from an earlier Apple era, but they ultimately go against the grain of his “think secret” mentality.

  8. It doesn’t matter what the stock price is doing, all i know is for the first time i am seeing hard core Windows users opt for a Mac. why would that be? Thats stats. this month show mac servers out selling Windows servers. The key to this wave of mac buying is simple.
    People want to be different, people want to be creative, people want to do things with there PC’s without becoming a computer wizard. For the first time in this tech economy we are seeing applications,web sites, hardware being developed with the user in mind and not the techie. Look at what web 2.0 is telling us ! its not a technical phenomena, its about the dog wagging the technology tail.
    so for all you tech wizards out there, Apple is doing it for the people. The iphone is just another great device, it doesn’t have a whole load of technical gadgets, that other phones don’t have or won’t have, its just the way its going to present them to you !
    Phones unlike PC’s have a less technical user base, so why does one buy a ipod of a iphone, silly question !

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