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In a span of 20 minutes, Apple stock plunged 2.2 percent as frantic computer geeks and high rolling Wall Street investors sold Apple shares at $103.42 per share. How did this happen? Turns out when it comes to Apple, millions of people hang on every word related to the company. So when AOL’s gadget blog, Engadget erroneously reported that “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,” panic ensued, and knocked $4 billion off Apple’s market value.

Though Engadget quickly retracted the factual error 20 minutes later, it was too little too late and the damage was done. There are some very unhappy Apple shareholders out there yesterday as they lost a lot of money over something they read was wrong.

Apple has a Worm..Can that Worm [WSJ Blogs]
Fake Memo Roils Apple Stock; Investors Call for SEC Probe [Biz 2.0]

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