While it may have been a great day for Apple consumers, the stock holders did not agree. After the announcement of 7 new iPod variations and a $200 price drop for the 8gb iPhone, Apple’s stock took a fall that ended -7.60 at the end of the day yesterday.
Today prices have risen slightly, but the stock is still looking at $10 Billion Dollar devaluation in the last 24 hours.
The reason? Well, it’s speculation, but from those that I’ve asked that know more about this than i do, the reason for the drop is the $200 price cut on the iPhone. Fear of customer backlash (which is happening in droves) and the fact that Apple just significantly reduced their per unit profit on each iPhone sold from here on out.
