“Apple (AAPL) shares dropped nearly 6 points in the space of 90 minutes on the strength of a unsubstantiated report of a cut in iPhone production. Some Apple watchers are characterizing the action as a deliberately staged raid on the high-flying stock,” Philip Elmer-DeWitt blogs for Business 2.0.
“The news that drove the stock down was mostly spread by word of mouth, but one version appeared shortly after 11 a.m. ET in a Scott Moritz piece in The Street,” Elmer-DeWitt reports.
Full article here.
[UPDATE: 2:32pm EDT: Miller Tabak analyst Peter Boockvar said that his firm “authored no such note on Apple. Instead, he said, gossip was passed along during a conversation and was subsequently overblown. ‘Disregard it. There’s no note on Apple today,’ Boockvar said. ‘It’s pure noise,'” AppleInsider reports. Full article here.]
[Thanks to MacDailyNews Reader “jendensam” for the heads up.]
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Apple shares take 3% hit amid speculation about iPhone production cut [UPDATED] – July 31, 2007
What I love about Apple through all of this sort of thing is that they just keep on task. iPhone sales are just fine, and Leopard is well on its way. By Christmas aapl is going to be worth close to $200.
Let me explain how business works everyone.
You spend years developing all these technologies, maybe a year implementing them into this device, and 5 months perfecting their integration before releasing the device. Now during 40% of the latter development you have product 2.0 in the works. So of course Apple is going to cut back production, because when Product 2.0 comes out, they aren’t going to be selling as many of the 1.0.
And no they wouldn’t cut production by half.
Fsck, I wish the stupidity bug would be exhausted from this website. We didn’t all used to be this dumb here. Get a grip, and some ginko in your diets.
Jarrett
Gingko. Ging-ko.
Dumbass. Err… Dumas. Sorry.
MW beyond — why they let some of these people post is beyond me…
One of the many things I like about Jobs/Apple is that they don’t run out on days like this and scream, “It’s a lie!” They don’t seem to fret much about stock performance. They just keep churning out fabulous widgets and let the swine rut in the mud.
People who run their business correctly don’t have to run out and scream “It’s a lie”. They know that they have the entirety of several industries running scared. Their isn’t anything anyone can do about the juggernaut that Apple has become. They are just going to get bigger and bigger.
Jarrett……Gingko , sorry smucko!
Clearly, your grasp on english is superior to mine. Now if you actually knew anything…..well then you would be doing alright. Congrats on your spelling, and your negative bank accounts.
How do we find out who is behind the stock manipulation? How do we file acomplaint with the SEC? Is it worth it? All Apple users should be on the look out and send info to Apple or to whom? Let’s get these guys. I was just informed that the big hedge funds control the market as well as the big brokerage houses…true?
Bill Gates started this. He’s selling MS stock and buying Apple.
@clinicaltechmaster
“How do we find out who is behind the stock manipulation? How do we file acomplaint with the SEC? Is it worth it? All Apple users should be on the look out and send info to Apple or to whom? Let’s get these guys. I was just informed that the big hedge funds control the market as well as the big brokerage houses…true?”
Sure let’s castrate them and run them out of town.
Get a grip, the entire Stock Market took a hit because of the housing slump and it it is not over yet. Something like this even affects the European markets, you think Apple is shielded from this?
“How do we find out who is behind the stock manipulation? How do we file acomplaint with the SEC? Is it worth it? “
Likley would never amount to anything anyway. The best thing you can do is find some way to accumulate mroe shares on this dip. I’m no expert but my guess is that afte a $9 drop, there will be some buyers tomorrow.
Believe me when I say the “Analysts” and “Advisors” like Cramer are doing this on purpose to ratchet up the profit when Apple makes its upcoming “product transition” plans apparent.
Now if only I had some money to play with …
“How do we find out who is behind the stock manipulation? How do we file acomplaint with the SEC? Is it worth it? “
Don’t worry about it.
Arbitrage provide liquidity.