May 18, 2007

Vomit Comet

Just check out that graphic right there. That's Apple losing $4 billion of market cap in six minutes. How, you say? Tech blog Engadget received an email from an Apple employee stating that the iPhone and the next MacOS would be delayed. Their post triggered the massive sell off. The only problem is that it's not true. Someone hacked Apple's email server and sent the internal email to several employees. Once the error was found, Engadget (and everyone else) posted retractions, and Apple got it's market cap back in 20 minutes. You can read more about it on the Engadget site.

Regarding yesterday's Apple news (Engadget)

1 comment:

ndbutter said...

If they catch the guy that did that and found out he traded on it, he'll be going to prison for a long time.