Again!?…Why is Apple so affected by rumors?
Again today Apples stock took a huge hit (7%!) when a rumor that turned out not to be true hit the inter-tubes. This time TheStreet.com reported that Apple was cutting back on their production of iPhones, thus causing people to panic and sell their stock.
This is remeniscent of the time that engadget reported a rumor on Apple delaying the iPhone and their new OS when the stocks took a huge hit, but quickly recovered.
Why is Apple such a volatile stock that goes up and down with the rumors so quickly? Is it because it’s so new? Because people love the company, but are always scared of the comeback kid and wondering if they are for real this time around? I don’t know, but it’s crazy that this has happened twice withing the past two and a half months.
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