The entire world went crazy in the last 24 hours, as investors and rumor-mongers alike realized that maybe, just maybe, Apple might possibly sort of, update the iPhone with new features at some point in the future. All of the hullabaloo was set off when AT&T CEO Randall Stephenson, repeatedly pressed for information about higher-speed iPhones, said “You’ll have it next year!”
And just like that, the stock jumped up. It’s so funny. I’m going to go further, and announce that at some point in the future, Apple will release an iPhone with more storage, GPS, better typing, more applications, games and faster WiFi. Some of those features will be delivered in 2008. Does the stock go up now?
Image via Flickr
10 responses to “Apple Stock Up on 3G iPhone, Most Obvious Rumor of All Time”
Well, If you actually look at the price movement during the time of the news release, there was no “jump” at all. It was a rise of only a few dollars and it happened steadily throughout the day. In other words, it did exactly the same thing it’s been doing for the past couple of weeks since the price too a big fall (along with the market in general). What was the news that caused the similar rise for each of those other days?
The thing to recognize is that the “causes” of stock price movements cited by reporters are often meaningless. The article you link to is a perfect example. Reporters do it because, if they didn’t, there’d be very little stock market news to write about.
Big whoop, stock goes up on this news, and will go down an equal amount once these people log onto AT&T’s website and try to find any sort of 3G coverage in their area. You have to dig down to CITY view (!) before anything shows up at all. Heck, AT&T hasn’t completed its EDGE network yet, and is already touting 4G as the “next big thing”. One tower on the east coast and one on the west coast does NOT constitute “nationwide coverage”!
Finally Apple and AT&T have initiated a true stop for all of the iPhone unlockers out there. You want to unlock our phone? Have at it, and be stuck on EDGE with Tmobile. Oh, you want 3G? Welcome to Cingular, the New AT&T and our ridiculously high data charges. You’re going to pay for these and love it, because Steve Jobs has finally delivered with the iPhone 3G.
As for the guys across the pond, it’s really a lost cause, heck, the EU is probably going to force everyone to unlock that bad-boy anyway.
I second Joseph.
I’ve seen stock prices spike and bottom out many times and I certainly haven’t seen it recently.
Now, when Steve Jobs announces a 3G iPhone…
AndrewisNOTWise… Apples strategy for the iPhone is UNLIMITED data. The choices of plans only differ by thee number of minutes u get. Actually, my wife’s phone bill for her iPhone is pretty reasonable.