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Since hitting a high of $279.01 on June 21, Apple shares have dropped over 7.7% to close Thursday at $251.45. This morning, ahead of its iPhone 4 press conference, Apple shares fell 0.7% by noon trading. The iPhone 4, which was to be yet another smashing success has become a somewhat sore issue. While at first sales of the new phone once again blew past expectations, reports of bad reception and dropped calls immediately tarnished the new must-have gadget. But "antennagate," as it's been dubbed, just began, especially with Apple's response to consumers: avoid gripping the phone in the lower-left corner. Consumer Reports then said it can't recommend the iPhone 4 after tests by its engineers confirmed that the device does indeed have reception problems. And Bloomberg reported that a a senior antenna engineer named Ruben Caballero personally raised concerns about the design to Jobs.
So Apple then announced it will hold a press conference at 10 AM Pacific time on Friday. That's in two hours. What to expect?
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