Apple: Engadget issues false alarm on Apple story
Engadget now writes "While our source that provided us the information is solid, we just heard back from Apple PR -- they let us know that the iPhone and Leopard are both still on track, and should meet their expected launch timeframes. We'll keep you up to the second with any further developments."
On a personal note, I was long AAPL when the false alarm was issued and I was stopped out. Decided to short before I knew what was happening - covered at $105. This sort of screws up the whole chart.
3 comments:
I agree. I was looking to go long today and missed the perfect opportunity around 104.50. I would have bought in around here, but my boss was hovering my desk at work at the time. (I'd be fired for trading at work) I am seriously pissed at this time. I now invalidate AAPL for the day. I guess I know to go short if such news ever arises.
Interesting though how a rumor has such a big effect on AAPL. May be saying the the stock is priced for perfection.
ADD Trader
@ ADD,
Agreed,
The stock is priced to perfection and any rumours about product delays can plummet the stock.
Reading the message boards - they say an internal memo was issued and later reissued with a correction. I know that Steve Jobs likes to do head fakes like he did at MacWorld last year. Maybe this was his idea of a practical joke. Anyway, I'm not sure I should waste time reading message boards and I'm not sure this story is over.
@EY
I know the pressures of trading from work, but its hard not to when the perfect setup is staring you in the face.
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