Wednesday, May 23, 2007
posted by Admin Team @ 5:18 AM
On may 16th Engadget reported that they had recieved an internal apple email stating that the apple iPhone and Leopard had both been delayed three months each ( october and january respectively ).
Within 6 minutes approximately $4 Billion were wiped of from the apple stock. This confirmed but two things.
1. All stock brokers read digg and engadget.
2. Most stock brokers have no brains.
I've seen this before, within minutes of an apple rumor hitting the mill, stock tends to go up. In fact the stock went up during the Macworld keynote where the iPhone was revealed. They were all on macrumors reading what was happening behind the black curtains.
But other than that, it put a very real possibilty in prespective. Can a blog make so much money dissapear on such baseless facts and is it legal ? Shouldnt they atleast check it out once before posting, call a few people, comfirm the story ?
Obviously Apple's hyper active legal department isnt going to take this lying down, but then again engadget can always claim that the email came from the apple system, they had no reason to call the bluff !
This has opened a can of worms if you ask me, it could mean blogs being sued for anything they post and it could result in the loss of a lot more money. only time will tell...
courtesy : Google Finance, tech crunch