Jobs Heart Attack Rumor Sends AAPL Stock Down 7.5%
12:04 pm, October 3rd, 2008, Lonnie Lazar
A citizen journalist posting to CNN’s iReport website early today had Steve Jobs being rushed to the hospital in an ambulance after suffering a heart attack.
Katie Cotton, Apple’s Vice President of Worldwide Communications quickly shot the rumor down as false, though not before Twitter exploded with tweets on the story and Apple’s stock tanked, before bouncing back.
In early morning trading in New York, AAPL opened strong, up $6 from Thursday’s close at $100. In no time, however, when the rumor hit the wires, the stock was trading at $98. The stock quickly recovered, bouncing back to hit $106 again in early afternoon trading, before sliding back into the close near $97.
Undoubtedly, recent analyst revisions to the broader economic outlook as well as to Apple’s particular prospects, more than concerns about Job’s health, would seem to account for the recent poor performance of the company’s shares. Apple, Inc. stock has dropped from $180 to $97 in just six weeks.
Posted by Lonnie Lazar in News, Rumors | Comment on this article
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iReport news alert: Steve Ballmer visits doctor. Healthy enough to live another 100 years. Microsoft stock tanks.
bill, on October 3rd, 2008 at 8:47 pm
Big deal, a cable news network got something wrong. They have 24 hours to fill, you can’t expect perfection.
Rock, on October 4th, 2008 at 9:04 pm