Shares of Apple stock fell sharply on Tuesday afternoon — down to $246.43 before a modest recovery — and as of Wednesday morning were down about 8 percent overall from where they were on the iPhone 4’s June 24 release date.
In just a short window of 3 weeks Apple has seen a fairly significant drop in their companies worth. There are always the fans of course, which will undoubtedly ensure the companies success, but it’s a good reminder for all businesses to be sure to listen to your customers. The technical issues and limitations of the iPhone were known about prior to launch and acceptable solutions weren’t attained. So instead of having a techological breakthrough (again), Apple instead is dealing with a problematic piece of hardware. The most recent buzz surrounding the iPhone and it’s issues, are the smatterings here and there of a mass recall in order to address consumer concerns; which would only further the impact. Analysts within the industry have suggested the technical issues surrounding the phone aren’t necessarily the problem, it’s more the way Apple is dealing with it. Apple maintains however, that despite a programming bug, the iPhone 4 is a fine product with solid reception.
Within the midst of all the iPhone buzz, Apple is moving forward with the purchase of a Canadian company, Poly9, which creates browser-based 3D software. Seeing as how Apple has shunned Flash from their phones, the acquisition of Poly9 may be another way forward for the company.