Fake Apple email claiming iPhone and Leopard delay causes stock plunge

Alex Zaharov-Reutt
Thursday, 17 May 2007 18:00

Your IT - Mobility

After tech site Engadget posted a report that the Apple iPhone would be delayed until October and OS X 10.5 ‘Leopard’ until January, Apple’s stock plunged 2.2% but has since recovered after the news turned out to be fake.

Engadget’s original story had quoted an internal email, sent to them from an Apple address after having been fraudulently circulated through Apple’s internal email system, claiming that the iPhone and Leopard would be delayed, with the almost immediate result being the rapid-fire spread of the news throughout the financial community causing a 2.2% price plunge.

However soon after, Engadget received an email from Apple claiming that the original email was fake, with the email trail seen at the Engadget link above.

Engadget’s original post said that: “This one doesn't bode well for Mac fans and the iPhone-hopeful: we have it on authority that as of today, 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”.

That was enough to spook the markets, but 20 minutes later the email from Apple arrived explaining all, leading to Engadget’s correction and the subsequent recovery of Apple’s share price.

Comments at Engadget’s story and on financial forums weren’t too forgiving of the gaffe, but were clearly relieved the story was a hoax, with Engadget speculating that Apple was now searching for the responsible who spoofed Apple’s internal email system.

Apple’s programmers, developers and hardware designers have seen what fake news of a delay could do, no doubt causing some to redouble efforts to ensure Apple’s latest and greatest arrives on schedule.