Apple stock falls 10 percent on false report of Jobs' heart attack

Stock falls after report posted Friday on a CNN user-content site claimed Jobs had been rushed to hospital suffering severe chest pains.

Reports early Friday that Apple CEO Steve Jobs had suffered a major heart attack briefly sent company shares sliding, but prices rebounded after Apple denied that Jobs had been hospitalized.

Shares fell by more than 10 percent almost immediately after someone posted a report on a CNN user-content site claiming that Jobs had been rushed to a hospital after a heart attack. The piece on CNN's iReport.com, an unfiltered site that welcomes posts from "citizen journalists," cited an anonymous source who claimed that paramedics had been called after Jobs suffered "severe chest pains and shortness of breath." The report has been yanked from iReport.com.

Apple quickly denied the report, telling reporters that the account was "not true."

The company's stock took a dive on the news, dropping from its after-opening high of US$106.19 to as low as $94.65, a fall of 10.9 percent. The brief dip under $100 was the first time since May 2007 that Apple's share price has slipped under that mark.

Apple's shares rebounded later Friday. As of about 12:30 p.m. EDT, shares were priced at US$104.47, up $4.36, or 4.36 percent, for the day. That price, however, was still under the day's high to that point.

Jobs' health has been an on-and-off concern on the part of some investors since June, when he appeared gaunt at the company's Worldwide Developers Conference. His appearance then fueled speculation that he was again ill. In August 2004, Jobs announced he had had surgery to remove a cancerous tumor in his pancreas.

In August, the Bloomberg financial news service inadvertently posted Jobs' obituary. News organizations typically write obituaries of notables while they're still alive, and regularly update them so that the stories are quickly available.

At the time, Apple's stock fell slightly, but as it did Friday, later rebounded.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.
Gregg Keizer

Gregg Keizer

Computerworld
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Bitdefender 2019

This Holiday Season, protect yourself and your loved ones with the best. Buy now for Holiday Savings!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?