Bogus email costs Apple 4 billion market cap

[Charles]

The likes of Apple computer Incorporated were not safe from fraudulent hackers which has made a wrong report email that says that the Iphone would be delayed from its release. As reported by Techcrunch today.

Stock reactions has been high for 6 minutes that Apple has lost 4 billion dollars market capital. The root cause of the story is that when Engadget has reported about the fraud Iphone issue. But the good thing about Engadget is that they are able to make a remedy on the situation by fixing the story for over 20 minutes.

The market has been down for a duration of 6 minutes and a relieve of 20 minutes, which should be credited to Engadget's commitment, to correct itself.
This market outbreak should never happen again or companies would loose a lot of valuable money.

[park_drift]

as what people say, what you say or write tells what kind of person you are, this just reveals that Engadget has done a good one on this having reversed the situation in 20 mins...a round of applause for that.

[mini_0]

bah , that is something ridiculous . Why did they believe fully on the email as it was unknown ? In an update, Engadget said that the email was in fact sent from Apple’s internal email system, but that it was not accurate. Apple quickly notified Engadget of the error, saying “This communication is fake and did not come from Apple. Apple is on track to ship iPhone in late June and Mac OS X Leopard in October.”By 12:22 Apple stock had mostly recovered and it ended the day down just $1.40/share, or $1.25 billion in market cap.