Go, Go engadget Blog

Want to know the power of a blog?

Yesterday, a popular technology blog, engadget, put Apple investors into a panic.

At 11:49 a.m., the blog featured a post that declared it had information "from a trusted source" that the long-awaited Apple iPhone release would be delayed until the fall. It went on to state that Apple's much delayed new Mac Operating System, Leopard, wouldn't be ready until 2008.

Over the next 6 minutes, Apple stock tanked on massive selling. The sell-off trimmed an estimated $4 billion off Apple's market capitalization value. Market cap is just one indicator of a company's value (shares outstanding x current stock price).

It turns out the email engadget received was fake! Apple quickly notified engadget that the email "did not come from Apple. Apple is on track to ship iPhone in late June and Mac OS X Leopard in October."

engadget retracted the post, but insists the phony email originated at Apple.
Dr. Claw was unavailable for comment.

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