1 Email, 15 Million Shares, and a 23 Minute Lie: The iPhone Phenomenon Continues

Hello!

I just realised that most of you might not know about the fake email that was sent to Apple employees about the iPhone being delayed along with Leopard (again). Engadget reported it and Apple's stock price, which has steadily been climbing due to recent events (the announcement of the iPhone and the excellent financial results), took a massive beating. It plummeted so fast that the SEC got alerted and it was suspected that there was another scandal involved. Apple rarely does anything to demystify any rumours about forthcoming products but they had to take action this time around. They sent an email to employees which declared the previous email to be fake and assured them that both products were on track and would ship on time. Apple Stock has since been restored and is riding high.

So, that was an update about what happened in my own words and here is the opinion of AppleMatters:

You may or may not feel that Engadget did anything wrong in their handling of this mini-scandal. I have read many articles that take the position that Engadget was lax in their duties as journalists. Preferring to publish a sensational rumor instead of a more pedestrian truth. Because, after all, the truth isn’t nearly as exciting. Or you may feel that Engadget was just doing what every major news outlet does and that if Fox News, CNN, and the New York Times can get away with it, so should they. But I’m not here to talk about Engadget and their journalistic integrity (or lack thereof), I’m here to talk about the iPhone. I think, after this little incident, it is safe to say that more than a couple of people are interested in the iPhone. If you had any doubts that the industry didn’t care, they can now be laid to rest.

But let us sit back and marvel at this for a moment, shall we? Apple’s stock took a vicious beating, losing about 5% of its value in a 23 minute period all because of one email. A lot of people who should have known better bit hard on this one. Millions of dollars were lost by some (and of course gained by others) because of one email. And did I mention it only took 23 minutes? That is about one episode of Seinfeld. So, in about the time that George was losing another job or Jerry was cracking jokes about airports, Apple’s stock was going nuts. Microsoft should take note of this. If I were Ballmer I would have a division created tomorrow whose only goal was to send Engadget fake stories in hopes of messing up Apple’s mojo.

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Whatever be people's opinions about this device, I am sure this is going to rock the cellphone industry. It already has created a lot of waves.

offtopic:

arya the answer to the question in ur sig is in my sig

Yeah, you have the 'Cut' option when moving files between drives. WOW!

No really, WOW.

Now can we get back onto the topic please?

iMav, the real answer to his sig is

1) Direct X 10

2) Windows Sideshow

3) Windows Image Engine

4) WMP11

5) Cut

6) Unified uninstaller

7) Ability to play any music format.

& so on.....

Wow, 7 options when I didn't even researched for it.

What! I think you did not understand what happened here.

LOL! This just in. In their three iPhone TV commercials launched recently, one of the commercials shows the user using the Google Maps application to find a restaurant. He finds one by the name of Pacific Catch and places a call to them.

When Erica Sadun from TUAW called them up, she was greeted by a hostess named Fancy who told her this:

We've been getting calls all morning from all over the country. People want to know if we're a real business. We are.

Let no one say Apple does not know how to hype their products.