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iPhone Production On Target

Thursday August 2, 2007 1:26 am PDT by Arnold Kim
Despite rumors of a decline in iPhone production that was credited for a dip in Apple's stock price, Digitimes reports that Taiwan-based component makers have stated that iPhone production remains on target.

CNBC has the backstory on this errant rumor:

When CNBC reached Boockvar in his office Tuesday evening, he said the entire incident was based on a misunderstanding.

Boockvar says he was contacted by TheStreet.com's reporter and when asked about the iPhone/iPod production problems, he merely said that he, too, had heard the rumors.

"We weren't issuing any kind of report," Boockvar said. "We don't have an Apple analyst, we don't even have a tech analyst."

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macintel4me
Posted: 63 months ago
what a great time to buy some Apple stock now!
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supermaan
Posted: 63 months ago
This really isn't surprising, especially considering that it came from TheStreet.com, which really is Jim Cramer.

Look at what he had to say a few months ago: http://tradermike.net/2007/03/jim_cramer_market_manipulator/.

Specifically, he mentions giving out "rumors" (which are completely fake), in order to alter a stock's price just enough to make him enough money.

Maan
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JPyre
Posted: 63 months ago
Like I said before, that "TheStreets" writer is the same guy that started the "iPhones are still widely availible, Apple missed their mark" rumor/lie. Within 24 hours of that story every Apple store in the country was showing sold out, cept one in Pittsburgh ;)
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yoman
Posted: 63 months ago
Yes this is an example of bad reporting and pretty close to outright lying. I'm not versed in legal matters but I wonder if this is illegal in any way.
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Yankees 4 Life
Posted: 63 months ago
the SEC should be on the street's ass right now... this is ridiculous
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JPyre
Posted: 63 months ago

Like I said before, that "TheStreets" writer is the same guy that started the "iPhones are still widely availible, Apple missed their mark" rumor/lie. Within 24 hours of that story every Apple store in the country was showing sold out, cept one in Pittsburgh ;)


Edit: I find it hillarious that Moritz had to edit his stories and issue TWO video responses to HIS rumors... The rumors were created by him alone. He's talking about it like he's not involved and directly responsible for the stories he writes.

Edit: whoops...
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ajhill
Posted: 63 months ago
It's too bad CNBC didn't cover the correction of the earlier reports with the same frequency and tenacity that they did this huge rumor of a supposed Apple stumble. Now we hear that iPhone is on target for the real production numbers. Do you think they will even bother to correct the story tomorrow and help to undo some of the $9.60 of downside they caused on Monday? Probably not. The again they did cut a deal with the devil, er Microsoft a few years back. MSCNBC?

Sad to see the sorry state of journalism nowadays. Can't wait for Murdoch's business channel. It couldn't be any worse that CNBC. Maybe the Wall Street journal types will bring so class and responsibility for business journalism.
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lord patton
Posted: 63 months ago
just gotta vent about the "9 million iPhone production slashed in half" rumors.

goddamn lemmings out there playing the market. You'd have to be on crack to believe that rumor. The only way anyone would have that info would be if 1) an Apple exec leaked it or 2) the Asian supply channels gave it away.

It almost certainly can't be #1, because Steve Jobs threatens all his employees with the death of their loved ones if they leak a rumor. And it definitely can't be 2, because APPLE HASN'T ORDERED 9 MILLION STINKIN' IPHONES!!!11ONE!TWO34!

If Apple is on track to sell 1 million iPhones this quarter, then they are manufacturing ~80,000 a week. No blip on the supply chain could ever indicate a 4.5 million unit swing.

Some a-hole made a killing manipulating the stock price this week, and I weep that humanity is so stupid.
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nxent
Posted: 63 months ago

This really isn't surprising, especially considering that it came from TheStreet.com, which really is Jim Cramer.

Specifically, he mentions giving out "rumors" (which are completely fake), in order to alter a stock's price just enough to make him enough money.

Maan


would be somewhat clever,, is this legal?
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