Rumours of rumour makes Apple stock slide
3G iPhone delay whisperings
23 May 2008 12:43 GMT / By Amy-Mae Elliott
Showing the power of gossip and speculation on the stock market, Barrons is reporting that Apple's share price is being affected by "rumors of a rumor".
Apple shares apparently lost ground - down nearly $3 - over mutterings involving possible delays of the 3G iPhone.
Barrons reports: "trading source tells me there are 'rumors of a rumor' of a 3G delay ... Meanwhile, TheFlyOnTheWall.com is reporting that the weakness is being 'attributed to vague concerns regarding 3G launch”.
Bearing in mind, that aside from Steve Jobs' comments on the matter last year, Apple has not confirmed that there will even be a 3G iPhone, it demonstrates how seriously whispered info is taken by traders.
Before the iPhone's launch last year Apple stock suffered dramatically when a gadget blog published a supposed leaked memo stating the phone would be delayed, that was later revealed to be a hoax.
Apple is expected to announce the 3G version of the iPhone during Steve Jobs' keynote speech at the Worldwide Developers Conference in San Francisco on 9 June.
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