Apple stock is off over 4% in trading today on fears that the iCloud security news will adversely affect Apple’s upcoming product announcements scheduled for September 9th. Apple is announcing new health and payments related initiatives next week, so perhaps investors fear that consumers will not trust those new services in light of the iCloud situation:
[tweet https://twitter.com/markgurman/status/506489479428067328]
To go along with the iCloud/celebrity hacking troubles, Apple’s App Store and iTunes Store took some outage hits last night and the stock has been downgraded by analyst firm Pacific Crest. Apple crossed the $100/share marker in mid-August as speculation about the new iPhones and upcoming iWatch also hit all time highs.
The AP is saying the stock could be off because of Samsung’s announcements but nothing was announced that wasn’t expected.
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I’m gonna cry, they haven’t even taken their post-product unveil hit yet. I wouldn’t be surprised if it’s under 94 by next week
(I think that should be ‘effects’)
If I had taken English in college, that professor would be upset.
Seth, you mean ‘effects’ not affects in the headline.
The media can spin it any way they want, but there’s no iCloud security issue that doesn’t also affect (see that’s how you use the word affect) every other online backup/storage site. The main difference being only iCloud’s popularity and the types of content stored there.
Not all the images came from iCloud, not by a long shot.
The drop is more in connection with Samsung and Sony’s unveils today
Samsung has a curved phone, a curved watch and a VR headset phone
Sony unveiled a phone that can play PS4 games much like the Vita
Apple needs a huge impact next week to stabilize the people, that curved watch was a major bullet into Apple as the curved glass aspect was a unique part of the rumors
Unlikely. The drop is just the day-to-day noise of day traders.
The samsung watch is embarrassingly bad. The curve is far too great too. If investors are worried about that, then they are obscenely stupid.
You must be more precise. The Gear VR is an accessory designed around the Note 4; together it makes up the VR system. And the Sony phone and tablet uses remote play like the Vita; the games are streamed from the PS4 to the device.
They won’t ‘have some challenges selling storing credit cards and health data next week.’ As they’ve already got most of them on file anyway. I don’t think people are ringing up Apple right now to close their accounts…
Considering iCloud wasn’t the source of the leak.. umm.. how do you connect this drop with iCloud?
It’s just someone trying to manipulate the market for their own gains. A few cents here or there in a single day can be huge profits. The timing of the rumors is very suspect. Market manipulation happens every day and with Apple often in the press it is easy to nudge it.
Up or down, people can cash in at the expense of others.
Apple will not admit it but they ultimately allowed weak passwords. Yes; the people affected by this issue are at fault for selecting weak passwords but Apple allowed weak passwords in the first place.
It’s like stop signals. We all know that you’re suppose to stop at red lights but everyone don’t follow the rules hence the reason for red light camera’s. People blow through red lights all the time causing accidents. Basically Apple was not using a digital version of the red light camera to potentially stop this activity in it’s tracks.
Apple doesn’t allow anymore weak passwords than anyone else.
has to have numbers and letters, multiple cases, and at least 8 characters.
What’s next?
For me, it would be prohibiting english words, that’s the only way…
Wall street insecurities never change.
This drop is great people. The leaks weren’t iCloud’s fault. The leaks were on a number of systems including Android. Sell your stock as I did. Watch it drop. By it at the low and take a profit from people’s irrationality.
Woah buddy, the drop is over, expect a bounce back by Friday, I hope you didn’t sell your stock, it was showing a bounce back by 1pm.
Sept 9 will see another drop but it will probably bring the stock back to 99-98 range.
Actually it was because of an analysts call to take profits before the event… If you go to your favorite financial site you will see what they called for…
Soon enough buy backs will kick in. Then algotraders and hedgies will jump in.
So what’s everyone gonna do?? Sell their iphone and buy an android? That’s open source?? That’s not that secure?? No.
Apple will eventually gain it back. Their products are and always will be successful. The iphone 6 will sell more than the iPhone 5s JUST because it’s the latest and greatest.
Hmm…AAPL was up yesterday when iCloud was front and center. I think today is more about the WS analyst’s sell note.
Sounds like what we have here is 9to5 staffers working together to create an Apple stock sell-off, so they can all buy low right before the iPhone 6 release. Well played 9to5
W…T…F…?!?!?! I always thought these anal-ysts were crack smokers before, but now I think they’re doing LSD or Ecstasy! Are you serious? Then how do you explain all the pics that came from Blackberry and Android devices? How do you explain Apple’s official statement yesterday that this was NOT an iCloud breach?!
You freaking MOFO’s just found a convenient excuse to short AAPL YET AGAIN!!!
God if I could, and if it were legal, I think I’d take you to the rooftops of your Wall Street towers and shove you all off! Humanity would be better off without anal-ysts!
Totally the kind of article I’d expect from Seth these days
funny how no one thinks the dip has to do with Samsung’s Galaxy Note announcements. The Seoul guys are just completely written off.