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Apple Holders Have Heart Attack - But Steve Jobs Doesn't

by: Eric Savitz October 03, 2008 | about stocks: AAPL    

Eric Savitz

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Apple (AAPL) holders suffered a brief moment of terror this morning when a CNN iReport poster falsely asserted that Steve Jobs had been rushed to the hospital with a severe heart attack. Apple says the report is not true.

Here is the text of the original post:

Steve Jobs was rushed to the ER just a few hours ago after suffering a major heart attack. I have an insider who tells me that paramedics were called after Steve claimed to be suffering from severe chest pains and shortness of breath. My source has opted to remain anonymous, but he is quite reliable. I haven’t seen anything about this anywhere else yet, and as of right now, I have no further information, so I thought this would be a good place to start. If anyone else has more information, please share it.

The CNN iReport site features reader contributions of “Unedited. Unfiltered. News.” As Silicon Alley Insider writes this morning, “Citizen journalism apparently just failed its first significant test.” The site lists the name of the poster as “johntw,” but a link to his name has no information about his ID.

If the report was intended to knock the stock down, it briefly worked. Apple shares traded as low as $94.65 earlier in the session before rebounding; the stock is now up $4.43, or 4.4%, to $104.49.

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This article has 14 comments:

  •  
    Oct 03 12:11 PM
    that is so fucked up
    Reply
  •  
    Oct 03 12:13 PM
    amazing what sleazy people will do. I hope they hunt this bastard down and string him up.
    Reply
  •  
    Oct 03 12:21 PM
    if i see him i would totally skin him alive
    Reply
  •  
    Oct 03 12:23 PM
    I think it was Bill Gates...
    Reply
  •  
    Oct 03 12:24 PM
    nah i think it was steve ballmer
    Reply
  •  
    Oct 03 12:26 PM
    i think apple should sue CNN for reporting something that was not true
    Reply
  •  
    Oct 03 12:26 PM
    true, he has that sleazy air to him, doesn't he...
    Reply
  •  
    Oct 03 12:27 PM
    imagine he does that to every CEO out there .....
    Reply
  •  
    Oct 03 12:30 PM
    I think SEC should do something about fraudulently reported news.
    Reply
  •  
    Oct 03 12:33 PM
    Thank god i was still in bed when apple plunged to $94 or i serously will have a heart attack.
    Reply
  •  
    Oct 03 12:33 PM
    That would be amusing to no end, but can you imagine trying to enforce it?
    Reply
  •  
    Oct 03 12:34 PM
    that was to the SEC comment. I wish you no ill will
    Reply
  •  
    Oct 03 12:37 PM
    that guy probably bought it at $94 per share.....
    Reply
  •  
    Oct 03 03:25 PM
    This proves several things. (1) Major media brands have to filter content before allowing it to be posted; the potential additional liability is a small cost to pay to protect your brand; (2) Apple was right in refusing to provide regular updates on Jobs' health, as once it started down that road there would be hourly rumors; (3) while the collapses of certain stocks have stoked allegations of vast conspiracies, the market is so jumpy right now that a single person can knock a stock down 5%.
    Reply
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