“Shares of Akamai Technologies Inc. helped pull the Nasdaq 100 index down midday Thursday after a rumor that Apple Inc. would stop using the company’s technology to deliver audio and video to its iTunes Store customers via the Internet, and instead use Google Inc.,” The Associated Press reports.
“As of 11:26 a.m. EDT, Akamai shares fell $1.36, or 4.6 percent, to $27.90, after hitting a 52-week low of $25.97. The stock began to rebound slightly as the market questioned the veracity of the claim,” AP reports.
AP reports, “WR Hambrecht & Co. analyst Bob Stimson said the rumor is not grounded in truth, and that he is unsure of the source considering such a move would require massive data transfers. ‘It doesn’t make any sense,’ Stimson said. ‘It would be an enormous conversion for Apple to move all of its files onto Google’s network.'”
Full article here.
[Thanks to MacDailyNews Reader “qka” for the heads up.]
Apple needs to publicly denounce this rumor unless it has merit.
AAPL sure has been jumpy the past few days.
apple owns part of akamai.
this rumor hurts akamai share value, thus hurts apple’s investment in them.
Apple needs to stay out of the business of denying rumors.
Do you want another stock scandal?
Apple should buy Akamai and announce the acquisition at Macworld ’08.
‘Apple needs to publicly denounce this rumor unless it has merit.’
Why?
I’m quite sure Apple sold all of its Akamai shares.
‘ Stimson said. ‘It would be an enormous conversion for Apple to move all of its files onto Google’s network.'”
Another anal-yst, it’s not about moving data (and not onto network.)
The question does Google have capability to deliver data.
What we know is that APPL sold all of it´s shares of the Akamai long ago. They invested the money to something else…
Question is… does Apple and AT&T;have something…
And O/T: Andrea Jung got a nice $5 1/2 million signing bonus.
http://www.sec.gov/Archives/edgar/data/320193/000118143108002401/xslF345X02/rrd187135.xml
ie.. Apple does not have Akamai stock anymore and
Google is interesting? and AT&T;is a small company somewhere and they have few telephone lines and no capasity to do anything?
*add sarcasm*
*add typos*
Andrea Jung is under payed! She will do amazing things… (GE…Universal…NBC…China…Beaty…(Not as handsome as the Jonathan Ive is))
MDN Magic word is:outside
Apple cannot deny rumors since that would lead to :
Deny = rumor false. therefore,
Not Deny = rumor true.
Its better just to say nothing. Also better legally.
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Akamai for Google… this is huge news.
And would be appropriate to mention during the keynote.
YET FUNNY it’s not there in the supposedly leaked keynote.
Who knows. Funny to wonder!
Google has zero to offer in video delivery, Akamai is set-up world wide and is second to none at what they do. Time to buy Akamai while it’s cheap.
It would just be wise enough to have separated providers for Audio and Movie streaming… The loads upon internet bandwidth will be tremendously maltreated these next years…
Akamai stock drops, investors snag Akamai stock, Apple announces heavy-duty iTunes spiel, downloads increase, Akamai trades higher.
This is a farce meant to shift stocks.
May the farce be with you.
A year or so ago, Apple bought a huge data distribution site in Newark, CA (about 5 miles from my home). This state of the art building was built during the dot com boom but was abandoned when the bubble burst. My bet that Apple have this up their sleeve when they want to add to their data throughput. They may have it online already or using it for the new iTunes video rental service.