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CBS’s What’s Trending show posted on their Twitter account that Steve Jobs had passed away and subsequently removed the tweet, you can still see the original text because so many people retweeted it.
The news had no effect on the shares of Apple, which dropped only 1.73% compared to 2.69% for the Dow Jones because of the over spending relating to the Jobs Plan proposed by Barack Obama (to save his own job) which economists call “a complete joke“.
Bargain hunters swarmed in to take advantage of the price drop on Apple shares which have done better than the price of Gold. The price of Gold peaked on 9/11 and over a ten period have returned 300%. Shares of Apple have returned 4200% over the same period.
Channels: Apple, Steve Jobs
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Daya my understandig is that the DOW dopped because of the situation in Europe not because of the President's jobs plan.
Comment by fionnd — September 12, 2011 @ 11:32 AM
Fionn, according to WSJ it was both Europe and the jobs plan http://online.wsj.com/article/BT-CO-20110909-7087.... Also, on CNBC, CEO and CEO said that it won't help with hiring. Meanwhile it adds $447 billion to the debt and the money goes to mostly bailing out people with underwater mortgages (that shouldn't have bought homes in the first place), paying unemployment, food stamps, social security and medic aid. It will be paid for by people that saved the money and that were responsible, in the other words the rich.
Comment by Daya Baran — September 12, 2011 @ 12:18 PM
You mean people like Carol Bartz? Try to be consistent Daya – not all the rich are responsible savers (in fact if they would spend some of that money employing Americans the country would be in a lot healthier state. Similarly, not everyone with an underwater mortgage is irresponsible, and perhaps you could come up with a better jobs plan yourself rather than suggesting everyone who is unemployed or sick should be denied any help or medical aid.
Comment by Steve Bellamy — September 12, 2011 @ 4:32 PM