Thursday, September 06, 2007

Apple Cuts IPhone Price, Angers Some (AP)

By MAY WONG

SAN FRANCISCO (AP) — Apple Inc.'s price cut of its iPhone and new lineup of iPod players are expected to ring in healthy holiday sales, but Wall Street investors accustomed to Apple's meaty profit margins appear a bit disappointed.

Apple stock dropped $2.13, or 1.6 percent, to $134.63, in Thursday morning trading. On Wednesday, after the price cut was announced, shares fell 5 percent.

Meanwhile, gadget enthusiasts who snapped up the ballyhooed iPhone before Wednesday are coping with a bitter aftertaste now that it is $200 cheaper within 10 weeks of its introduction.

The price cut, from $599 to $399 for the 8-gigabyte iPhone, immediately set off a debate on online tech forums between early adopters, who said paying a premium price came with the territory, and those who said they felt burned. The price reduction was too much too soon, some complained.

In a discussion on The Unofficial Apple Weblog site, the views were split evenly. (more. . .)

1 comment:

daniellelynee said...

The people who bought it at its original price are going to get a $100 voucher from Apple.