Coffeehouse Thread

8 posts

Forum Read Only

This forum has been made read only by the site admins. No new threads or comments can be added.

Ouch! Engadget temporarily wipes $4Billion off Apple stock

Back to Forum: Coffeehouse
  • User profile image
    Ray6

    What with Engadget bigging up Apple at every opportunity, it must have come a bit of a shock to Cupertino, when the popular gadget blog published a fake email, claiming that the iPhone would be delayed until October, and the MacOSX would not be released until January 2008

    The market panicked and wiped $4billion from Apples' value before news hit that the email was fake. The stock has since recovered.

    http://www.dailytech.com/article.aspx?newsid=7329


    Pretty poor show by Engadget, and shows the dangers of rumour-mongering.

  • User profile image
    Massif

    Odd, when I checked engadget their reporting of the story was that the e-mail was a genuine internal e-mail, but had been retracted internally as well.

    Not so much rumour mongering as going off half-cocked. Still, what an excellent time to buy apple stock... and I missed it.

  • User profile image
    Ray6

    Massif wrote:
    Odd, when I checked engadget their reporting of the story was that the e-mail was a genuine internal e-mail, but had been retracted internally as well.

    Not so much rumour mongering as going off half-cocked. Still, what an excellent time to buy apple stock... and I missed it.


    Don't feel too bad; by the sounds of it, you would have only had a few minutes ...

    Well, if it did come from someone inside Apple, it may have been an attempt by the management to find someone with flapping gums. But that would be a pretty irresponsible way to go about it.

  • User profile image
    Massif

    Here's what they have to say on the matter:

    Engadget wrote:
    Here's the story. A trustworthy source supplied us with an actual internal Apple email that went out to thousands of Apple employees earlier today (published after the break). The fact that this was an email sent within Apple's internal email system to its employees is not in question. Let us reiterate: this was an ACTUAL email distributed within Apple's internal email system to Apple employees.

    As it turns out, the internal memo Apple employees received was actually retracted by Apple shortly after it was sent out. (Also published after the break.) We received confirmation from Apple PR that this initial email sent out to Apple employees was incorrect, and they let us know that the iPhone and Leopard are both still on track, and should meet their expected launch timeframes.

    Presumably Apple is now on the hunt for whomever was able to spoof its internal email system.


    See here, although that's pretty much it.

    So was it malicious? Or incompetence? Either way it's a stunning demonstration of the authority some of these blogs have in the industry.

  • User profile image
    Minh

    Or perhaps we should look into the "irrational exubiant" that goes into driving AAPL. When Vista is delayed time & time again for years, MSFT doesn't take the same scale of hit. Yet, when the iPhone is rumor to be 4 months late, AAPL takes a 5% dip.

  • User profile image
    j0217995

    Does Apple use Exchange for its email system? Seriously is there an enterprise mail system that runs on Apple?

  • User profile image
    Lloyd_Humph

    Excellent time to buy apple stock yes, so perhaps a little bit of a conspiracy? I've not really heard of fake Engadget emails..

    If Blackberrys are addictive cellphones, Channel9 is the ultimate addictive website.
    Last modified
  • User profile image
    Ray6

    Minh wrote:
    Or perhaps we should look into the "irrational exubiant" that goes into driving AAPL. When Vista is delayed time & time again for years, MSFT doesn't take the same scale of hit. Yet, when the iPhone is rumor to be 4 months late, AAPL takes a 5% dip.


    That is an excellent point that no-one has actually touched on. If what essentially amounts to a minor product delay, can have such a far reaching effect .....

    MS stock may not be anywhere near as sexy as Apple's, but I think long term, it's a lot more robust. I guess that's just an indictation of the company's maturity, as it settles into its role as the next IBM.



Conversation locked

This conversation has been locked by the site admins. No new comments can be made.