I'm not surprised that the stock is down. If you watch the <a href="http://www.socialnews.biz/tag/Apple">Apple</a> news flow, you can see it moving from "there won't be a recall" to "a recall is coming."
I think Apple was making a terrible mistake. They are committing a similar mishap as Intel did with their flaw in the Pentium chip in 1994. Hardliner denial. Arrogance. First, said the users are holding the device wrong. Then, said it was a software "display" issue. The user shouldn't have 5-bar signal strength to begin with. I have first hand experience with this issue. Hold the device on your left hand: signal strength went from 5 bars to 0 bar in 1 minute. No map. No google. No internet. Place the device down on the table (5 inches away). Let it settle for 1 minute. Signal strength returned from 0 bar to 5 bars. Google map, Google search, I could internet all I wanted. "Display" issue. Give me a break! Won't hold water. No wonder RIMM went up like gangbuster since 2 days ago. Sub 50 to 55.
IPhone antitrust lawsuit goes class action http://money.cnn.com/2010/07/12/technology/apple_att_lawsuit/index.htm?postversion=2010071212
I think <a href="http://www.socialnews.biz/tag/Apple">Apple</a> will be fine after they do the recall. They are killing RIMM which was unimaginable a few years ago.
AAPL not looking good, they didn't do much to offset the problem with the iphone 4 but give out free cases. On top of that they started more trouble with RIMM HTC and samsung saying that their phones also tended to drop calls when held by users.
there isn't one intelligent post about the iphone here yet. But go ahead and short. wouldnt be the first time ET traders were wrong.