Apple stock soars, smartphone makers sink

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Apple stock soars, smartphone makers sink

Following the introduction of the iPhone today, Apple stock rose $7.10, or more than 8 percent, to end the trading day at $92.57 a share. Meanwhile, being negatively affected by the iPhone, shares of smartphone makers Palm and Research In Motion (RIM) fell sharply. In the wake of the announcement, investors sold off shares of RIM, maker of the Blackberry line of devices, causing the stock to fall nearly 8 percent, or more than $11. Palm, maker of the popular Treo handheld, saw its stock drop nearly 6 percent.

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Comments

1

This is because…the iPhone makes a great business phone?

Posted by Chucklenuts on January 10, 2007 at 12:42 AM (PDT)

2

Because the iPhone will take a huge chunk of the market. Hate Apple all you want, but to believe otherwise is simply delusional.

Posted by Dalek on January 11, 2007 at 2:10 PM (PDT)

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