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Apple Stock falls whilst Steve Jobs talks about new iPhone 3G: Stocks decline $4.03

The latest news in has it that even though Steve Jobs done a great job chatting about the new iPhone 3G at the WWDC 2008 this did not stop the Apple stock plummeting.

The Apple Inc. shares closed lower part of Monday after Mr. Jobs revealed the new highly anticipated Apple 3G iPhone, ok yes we will all get a lower price GPS iPhone but this is how the stocks look. Apple’s stock declined 2.2 percent or $4.03 to $181.61, in the past year the stock had traded between $111.62 and $202.96. We have had some fantastic news today about the new iPhone at the Worldwide Developers conference in San Francisco, revealing dates, some specs, and details and much more, we will cover more. The bottom line is no matter how popular this phone is the WWDC 2008 keynote did not stop the stocks from falling.

Mike Abramsky, RBC Capital Markets analyst said in an interview the $199 price point on the 8 GB model “opens up a significant addressable market” of potential iPhone users to Apple. “I would call it a positive affirmation of what Apple needed to expand the market,”
U.S. shares of RIM who are the makers of BlackBerry, which is the worldwide popular wireless email device, were also down on stock as well, they were down $1.54 or 1 percent at $129.87 after Apple said iPhone users would be able to receive push email wirelessly.

Source — The Guardian