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The Power of Blog: Apple Lost $4 billion market cap

Filed in archive Mobile Commerce , Mobile Community , Mobile Technologies by leo on May 19, 2007

The Power of Blog: Apple Lost $4 billion market cap
The business world will never ever underestimate the power of blogs again. The recent "mistake" of Engadget about delayed launch of iPhone knocked $4 billion off Apple's market capitalizationlinks. When the gadget blog corrected its post, Apple's stock recovered some of its losses.

I know the much revered Alan Greenspan, Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006, can send market crashing with just a simple comment. I never realized a 96-word post from a powerful blog can easily stir even the financial markets.

From Engadget:
This one doesn't bode well for Mac fans and the iPhone-hopeful: we have it on authority that as of today, the iPhone launch is being pushed back from June to... October (!), and Leopard is again seeing a delay, this time being pushed all the way back to January. Of 2008. The latest WWDC Leopard beta will still be handed out, but it looks like Apple-quality takes time, and we're sure Jobs would remind everyone that it's not always about "writing a check", but just how much time are these two products really going to take?
The lesson is simple: follow Spider-Man's dictum i.e. with great power comes great responsibility!

Via TechCrunch


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Permalink: The Power of Blog: Apple Lost $4 billion market cap
Tags: engadget  iphone  apple  mobile+technology+trends  delay    mobile  billion+market 

Trackback: http://www.creative-weblogging.com/cgi-bin/mt-tb.pl/70794



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