It was quite interesting to watch the market swing yesterday. Apple (AAPL) took a 20% hit on the market last week when it was expected that consumer spending on “bling” would be reduced. “Bling” stocks like Apple, Starbucks (SBUX) and other companies representing consumers “living the life” mentalities tanked with futures projections.
And then yesterday came. Duncan Riley had an exclusive reporting the imminent release of an $800 laptop from Apple, the first sub-$1000 machine ever in the line of Apple products. From there, well read blogs like VentureBeat, MacRumors and Gizmodo - to name just a few - ran with the story.
Later in the day, Engadget reported an October 14th event where Apple would announce their new laptop line. Former Engadget editor, Ryan Block, 9 to 5 Mac and Digital Daily - again, to only name a few - ran with the story.
The result was fascinating. The DJIA is currently down over 300 points indicating yet another bloodbath on Wall Street. However, Apple stock is through the roof, up almost 5 points at this moment.
I am in no way suggesting people should go about trying to manipulate the market by creating stories or otherwise fabricating false positive pressure on the market. That is a crime. However, it’s important for blogger to recognize their ability to affect the market for the positive or negative.
And the pressure remains on the top-tier bloggers to use that power wisely and recognize that their words matter. If ever there was a “responsibility” at the feet of these bloggers, it is now.
{ 5 comments }
Robert Kosednar 10.10.08 at 1:26 pm
To the point. We have seen a similar affect in the bling. Use to have 1,600 visitors a day, now receiving 800/ day
For people searching for iPhone - exchange activesyc help. At the TechnoKOZ blog
http://www.technokoz.com/blog
Aaron Brazell 10.10.08 at 1:39 pm
That may or may not have anything to do with consumer confidence. It could
be that there's more info available regarding activesync help for the
iPhone. It could be that fewer people are interested in buying iPhones
because of the negative press. It could be because of negative press
surrounding Apple development for the iPhone. It could be that consumers
realize they can get most of the same functionality on an iPod Touch.
Or it could be in the economy.
Vinnie 10.11.08 at 12:04 am
“the first sub-$1000 machine ever in the line of Apple products”
1. Mac mini starts at $599 and has retailed for as low as $499 in the past.
2. The iBook had a $999 version for a while.
3. The iMac had a $899 version for a while with a 17″ screen and integrated graphics.
Aaron Brazell 10.11.08 at 12:09 am
I meant laptop. I don't count the iBook… $999 is the same as $1000 in my
opinion.
Robert Barr 10.11.08 at 1:35 am
No matter what the economy is doing, a sub $1000 Apple will be HUGE this Xmas!
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