Update: It seems the same technology glitch also caused AAPL prices to seemingly crash early this morning, with Yahoo Finance, Google Finance and MacOS widgets all showing incorrect prices.
We’re used to seeing the price of AAPL stock fluctuating based on even the flimsiest rumor, but this is something else entirely. Due to a glitch related to the way that Nasdaq stocks are listed on several major financial sites, AAPL shares appeared to quadruple in value following the closing bell on Monday.
While Apple fared well, however, other tech companies were less fortunate. The price of Amazon and Microsoft stocks appeared to lose more than half their value, while Alphabet and eBay shares were stuck at $123.47.
Nasdaq has issued a statement making clear that it is investigating the improper use of test data distributed by third parties. Prices on its own website weren’t affected by the glitch.
While the numbers may have surprised stock watchers, however, the glitch kicked into effect after the markets had closed, and the actual prices of the stocks weren’t affected. No trades were completed at the erroneous prices.
AAPL stock is currently trading (for real) at $143.50. The company has had a string of all-time high record-breaking days this year, with one Wall Street analyst claiming it is likely to be worth $1 trillion within the year. Back in May, it briefly became the first $800 billion company in history; having broken records as the world’s first $700 billion company two years before that.
Source: Independent
Luke Dormehl is a U.K.-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution and The Formula: How Algorithms Solve All Our Problems … and Create More, both published by Penguin/Random House. His tech writing has also appeared in Wired, Fast Company, Techmeme and other publications.
