“After a bit of a bump following CEO Steve Jobs’ keynote address at Apple’s developer conference, the company’s stock has been taking a beating. It was down almost 4 percent on Thursday. On Friday morning, it’s still heading lower,” David Morgenstern writes for ZDNet. “What is up?”
MacDailyNews Take: Not AAPL, that’s the problem.
Morgenstern writes, “It’s a bit bewildering, especially with the seemingly upbeat news from WWDC. However, it shows that there are at least two sides to any announcement.”
Morgenstern’s list of the “culprits” or at least ones that he sees:
• Jobs looked thin
• Disappointments in iPhone hardware features
• iPhone price drop
• iPhone competition
• Disappointments over waiting (until July 11)
Full article here.
That first bullet point comprises about 95% of the answer to the headline.
I think it’s the Thurrott endorsement of iPhone.
Ampar:
This definitely made me laugh, primarily because it came from an American – not many are able to laugh at themselves. Which makes me believe you are from SF, Boston or one of those more academic, cosmopolitan places that breed non-typical Americans.
Unlike our ‘Facts Hurt’ … well… character, who is able to stereotype so effortlessly.
Jobs always looks thin!! He is a lean, mean guy running a lean, mean company building lean, mean products. I watched the WWDC video and he doesn’t look any thinner than before and he certainly does not look gaunt.
It’s just another speculative, manipulative piece of FUD.
MW: design. A stock buying opportunity by design.
“Which makes me believe you are from SF, Boston or one of those more academic, cosmopolitan places that breed non-typical Americans.”
Very, very close. Atlanta.
“What is up?”
And by chopping their own nuts off (Apple’s) by not selling the iPhone through their website (that’s the rumor, right?). I haven’t heard anyone mention that, exactly. How are they supposed to sell all of these phones by chopping their supply chain by 1/2? 1/3? ?? I know it sounds crazy, but here in the middle of New Mexico you tend to buy a lot of stuff ONLINE.
Does anyone think it’s easy to get on stage for one to two hours of updates about your product and software? It’s a lot of preparation. That’s why Steve only does Macworld alone, onstage. He doesn’t simply improvise onstage and ramble. I don’t blame him for sharing the 2 hours of presentation with his lieutenants. There was a lot of information there. This guy is Apple. He surrounds himself with very talented people, but it’s still about SJ. You put his people around a Ballmer and the house falls down. This guy has a talent and without him Apple goes back to the days of the days of Sculley *shudder*
@ facts hurt:
1) You’d have shit without Americans
2) We are enjoying centuries of hard work
3) We are not French, thank god.
4) You’re pissed because your green-card was denied for being a pedophile.
5) Eff you, you can only hope the shithole you live in is as good.
Adios, socialist ****
Maybe this is the reason why the mac mini hasn’t been released yet
http://www.electronista.com/articles/08/06/13/intel.c2.quad.q8000.soon/
“This guy has a talent and without him Apple goes back to the days of the days of Sculley *shudder*”
Or worse, Spindler.
BTW, the first Apple CEO was Michael Scott.
Scott declared back in 1979 that there would be no typewriters at Apple.
But this part is more fun (from wikipedia):
“On February 25, 1981, the day known as Black Wednesday, Scott fired 40 Apple employees personally, including half of the Apple II team, in a belief that they were redundant. Later in the afternoon he assembled the remaining employees with a keg of beer and explained the firings by stating, ‘I used to say that when being CEO at Apple wasn’t fun anymore, I’d quit. But now I’ve changed my mind—when it isn’t fun any more, I’ll fire people until it’s fun again.’
Following this abrupt event, he was moved to vice chairman, a title with little power, and Mike Markkula, the man who had hired Scott, replaced him.”
Sorry MDN, Bullet point #2 is probably the main culprit.
Rock on Ampar good call
Thanks, eddie.
His jeans were atrocious!
His clothes need to fit better, he just needs a stylist.
It wouldn’t surprise me if he forgets to eat somedays.
Hope he has people to remind him, or is everyone afraid of him?
Ampar… I knew it. Boston or San Fran
or.. you know… some other place. But one of those, for sure!
Wish I had known in April. Had a huge event at the GA Dome. (Not tornado related!) Been nice to have you out for a drink…
Apple stock always falls after a Steve Jobs presentation.
It stays down for about 4-5 days and then starts climbing again.
It’s been a trend for the last 2 years , perhaps more.
I can’t understand the reason, but, 1-2 days after the presentation is a good time to buy AAPL
@ facts hurt:
I’m from South America. I lived in San Diego, CA for 7 years (legally, for the record).
I’m back in my country after that time (no, I never got a green card. It’s not easy to get one. Once my work visa expired, I returned, as every immigrant who respects the law should).
In those 7 years, I met Americans for all over the country. I never had any issues of discrimination or similar. And most people I met were great people. I also worked with some remarkable folks. Sure, I met my share of idiots, but they were not the rule.
So, stop bashing the American people. The majority of them are really great people. I would guess, just like in most countries.
@Facts
For a generalization to be true, ever part must be true. The word “all” is incorrect as I am an American and I am not fat.
That is an attempt at humor.
“All” generalizations are wrong.
…”Very, very close. Atlanta.”
That was my next guess…
Stock prices have nothing to do with reality.
“Disappointments in iPhone hardware features”
Typical Wall Street response.
“What, they didn’t make an iPhone that got you 75 MPG with any car? Oh god, oh god, Apple’s in trouble.”
They bitched about the missing features on the first iPhone.
Apple sells tons of them.
Apple fixes the “supposedly” biggest complaint, 3G speed.
Apple adds GPS.
Apple opens it up to support third party software.
Apple adds Enterprise support and features.
Apple extends the battery life.
Apple doubles the flash drive space.
There are days that Wall Street should just be firebombed.
Next time, Bluefin!
(I might be one of the few natives left here.)
And Predrag:
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“Missed it by THAT much!”
– Maxwell Smart
“‘All’ generalizations are wrong.”
And some generalizations are always VERY wrong. At least most of the time.
Could it be the Jobs = wasted rumor that’s causing stockholders to dump Apple? Yeah, we know the type. There’s no making sense of their behavior.
As for the more sane stockholders, I think we can continue to thank the Bush League and the Bush Recession. At the end of 2007 Apple was THE safe place to put your stock money. Then the Bush Recession became blatantly obvious (to everyone but bumbling economists in Washington, of course). So, when times are bad you grab your cash and hold on.
Meanwhile, right on schedule the price for Apple stock rose as WWDC approached. Then it dropped, again right on schedule. This is typical with most company stock. When I worked at Kodak the same behavior revolved around the annual stockholder’s meeting. But I believe the level and length of the drop in price this time is also fear of where our country is headed. Optimism is hard to find. Grab your money and hold on.
There has been speculation about the ‘Gee Whiz’ effect on stock prices. Clearly the technology press love to rant in ‘Gee Whiz’ terms. It sells ads. Only a dope would expect every major Apple announcement to be another ‘Gee Whiz’. But we’ve learned that an awful lot of dopes are day traders. WWDC had no ‘Gee Whiz’ factor. Sell, sell, sell. The stock brokerage companies love this behavior and encourage it. They make money with ever dopey transaction. I don’t see this behavior changing until the Bush Depression hits. ;-D
“We’re not filthy.”
You’re not American.
“You’re not American.”
I’m not up on immigration law but since I was born in a hospital in downtown Atlanta, Georgia (U.S.) that magically entitled me to U.S. citizenship. And a bath. It was complimentary.