This is a rumor that was reported on CNN's iReport site by one of its "citizen journalists" this morning. Apple Inc. (NASDAQ: AAPL) denied the rumor and iReport, which kept the post live from about 7:30 this morning to 10:15am, has since removed the post from its site. Needless to say, Apple stock took a big hit until Apple denied the rumor.
The original rumor included the following sentences: "Steve Jobs was rushed to the ER just a few hours ago after suffering a major heart attack. I have an insider who tells me that paramedics were called after Steve claimed to be suffering from severe chest pains and shortness of breath."
Silicon Alley Insider interviewed Apple's Katie Cotton, Vice President of Worldwide Communications, who replied quickly, saying "It is not true." This incident is likely to be investigated by the SEC. But given how important Steve Jobs is for Apple's future and the lack of information available about his health, a rumor like this is likely to gain more traction than it might at other companies.
And until cameras get live pictures of Steve Jobs actually appearing to be fine, doubts about his health may linger.
Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in Apple securities.











Reader Comments (Page 1 of 1)
10-03-2008 @ 11:50AM
Clan said...
Please take this down.
10-03-2008 @ 12:51PM
Whataretheythinkin said...
CNN should be doing some fact checking of it's own before just letting anything like that getting posted.
This makes one want to look at who's buying Apple when it's on the downside, or if there are disgruntled workers...
10-03-2008 @ 2:29PM
Me said...
Apple has the WORST CUSTOMER SERVICE in the WORLD!!!
They are horrible and once you buy an Apple product, they could care less about you...
Great Products - Terrible Customer Service
Perhaps Apple should take a break from developing products and learn to how to develop better customer service!
10-03-2008 @ 4:14PM
Nan said...
If this is not true, why isn't Steve coming forward to say 'See, I'm OK'. CNN should be checking the hospitals - there are plenty of people that will talk. Come on Steve - come out and play.
10-03-2008 @ 4:38PM
Jim Young said...
Hardly! Although Apple has had a few slips of late with it's multiple major new product roll-outs, they are still well ahead of the pack
http://www.computerworld.com/hardwaretopics/hardware/story/0,10801,103959,00.html
"For the second year in a row, Apple received the best rating from PC buyers in the American Customer Satisfaction Index, said David Van Amburg, general manager of the ACSI. The University of Michigan compiles the ACSI in numerous product categories by randomly calling U.S. residents and surveying their buying habits, he said.
Apple received a score of 81, compared with an industry average score of 74, in results released today. The company's focus on product innovation and customer service has won it a cadre of famously loyal customers, unlike any other PC vendor, Van Amburg said. Apple also received a score of 81 in 2004."
Nobody in the industry is perfect, but get real!!
10-03-2008 @ 4:40PM
Shelley said...
Don't let news whether true or not catch your open stock position from being hammered. Always have your protection in place. You can always buy back at a lower price, if that stock starts going up again. But if it does not - or say it takes weeks, months before it ever gets back to where it was -that's called "opportunity cost" where your money is not working for you. Don't suffer through corrections. Do you know when you lose 20% it takes 33% to recover, 50% takes 100% to recover? Keep an intelligent exit strategy in place so you can protect those profits and cut your losses. see http://www.smartstops.net
10-03-2008 @ 5:00PM
SGTMIKE132 said...
I HOPE HE'S O.K.,BUT THERE ARE THOUSANDS OF PEOPLE THAT COULD DO JOB'S JOB.
10-03-2008 @ 5:12PM
tweetip@mac.com said...
1st Tweets ~ Steve Jobs Heart Attack ~ Timeline/Chart... http://tweetip.us/lkq3e
10-03-2008 @ 8:21PM
Beltway Greg said...
Reuters: Jobs to Monitored 24-7.
In the midst of a tumultuous year for both Apple stock and company co-founder Steve Jobs the Cuppertino based enterprise announced that starting immediately Jobs would be tethered to a device that will provide real time data on his health. The app which will be available for download will be called "Jobswatch" and will monitor all of Steve's bodily functions and provide constant assurance to shareholders that Jobs is indeed alive. A company employee speaking confidentially mentioned that this is getting kind of freaky as this device will also provide samples of Jobs' urine and fecal matter as well as update you as to what his most recent meals were and, based on the testosterone levels in his blood, provide an approximate time that Jobs may next engage in marital relations. Released after the market closed on Friday it provided the impetus for a number of upgrades after the market closed. Lehman started Apple at Intra-day market outperform, market close in-line and Merrill sees both a greater demand for Apple products and Apple stock in the future.
Beltway Greg
10-07-2008 @ 12:23PM
Lorraine said...
Apple does not have horrible customer service. If you call and get an imbecile, hang up and try again. It's like life, everyone's not built the same.