Fri Sep 7 2007, 08:47 AM
Following Steve Jobs', CEO of Apple, Inc, announcement of the price drop for the 8GB model of the iPhone, from $599 to $399, at roughly 1:00 PM EDT, Apple's stock (stock symbol AAPL) went from $144.28 and closed at $136.80. Yesterday, Apple recovered from its stock recession, starting at $135.25, reached a high of $137.57 at 3:06 PM EDT, and closed $135.06. The recovery came after an open letter from the Apple CEO apologizing to all customers who have already bought the iPhone in the past two months, after a flurry of arguments at websites dedicated to the iPhone and customer complaint emails sent to Jobs.
Thus, in the apology letter, Steve Jobs stated to any current owner of the iPhone bought from "... either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store". Although, it is only half of the discount of the new iPhone price, details on how to obtain the $100 store credit will be released on the Apple website sometime next week. "There is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever. This is life in the technology lane." Indeed. Investors and Stock Brokers at Wall Street will see the consumers and stock holders reaction to Steve Jobs' apology letter, and the $100 store credit reflected on the AAPL stock; the stock market in the U.S. opens in 43 minutes, at 9:30 AM EDT.
Thus, in the apology letter, Steve Jobs stated to any current owner of the iPhone bought from "... either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store". Although, it is only half of the discount of the new iPhone price, details on how to obtain the $100 store credit will be released on the Apple website sometime next week. "There is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever. This is life in the technology lane." Indeed. Investors and Stock Brokers at Wall Street will see the consumers and stock holders reaction to Steve Jobs' apology letter, and the $100 store credit reflected on the AAPL stock; the stock market in the U.S. opens in 43 minutes, at 9:30 AM EDT.
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