AAPL falls on iPhone delay rumour rumours

Jonny Evans
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May 23, 2008
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Apple shares took a dive yesterday on strength of “rumours of a rumour” claiming the 3G iPhone release has been delayed.

SeekingAlpha reports the rumour of such rumours. True or false, we’d like to observe these stock-damaging remarks may actually reflect the release of iPhone Software 2.0, which isn’t due to ship until the end of June.

That this software won’t ship until then could suggest that the 3G iPhone will also not ship in quantity until toward the end of June, though it may be announced in advance of that at Apple’s WWDC event next month. Sure, we’ve reported claims the device will ship on keynote day, June 9, in the past, but it remains possible actual physical availability will be for later that month. If that’s true, then we suggest the current “delay” rumour is no more than Wall Street insiders tipping others off to expect the device a few weeks later than originally thought.

Meanwhile, consider these statements from AT&T CFO, Rick Linder, who told a Reuters summit: “There’s not been a product announcement. There hasn’t been any pricing decisions made. That’s yet to come.”

 

Comments (7)

9to5Mac Noob (not verified) | May 23, 2008 - 5:40am

Buy low, sell high.

JeffDM (not verified) | May 23, 2008 - 6:06am

I don't understand why Wall Street insiders would need to change their plans based on a short "delay".

NotSo Noob (not verified) | May 23, 2008 - 10:42am

It is ALL about the money some of them can make gaming the short term trading dynamics. Think sharks amongst a school of minnows. Corrupt would be far too polite a phrase to use to describe them.

9to5Mac Noob (not verified) | May 23, 2008 - 6:49am

The actual iPhone v1 is good enough.. we don't really care about the v2, so Apple can take it's time, we're not in a hurry.. yet ;-)

9to5Mac Noob (not verified) | May 23, 2008 - 8:00am

the market was down yesterday on record prices of oil, almost everything was down, i don't see how it was related to a rumor at all. No analysts came out and said that, in fact the news has all be opposite about how strong the iphone impact will be.

If you look at a chart this movement is all within the standard volatilty of AAPL right now.

9to5Mac Noob (not verified) | May 23, 2008 - 8:15am

Based on the current state of the 2.0 iPhone firmware, there's no way it will be ready by June 9. The end of June will be pushing it.

9to5Mac Noob (not verified) | May 23, 2008 - 12:18pm

thinking that the 3g iphone would ship in june is extremely wishful thinking in the first place. If the price drop is due to the release date (which it might not be) its due to overestimating how soon the product will be released.