Apple issued a press release today announcing that iPhone which was scheduled to ship in June, has been moved to October and the release date for Mac OS X Leopard has been moved to January next year.
It didn’t take more than 15 minutes before people were selling their Apple stock, which dipped 3%. Apple’s stock was down from $108.48 a share to $103.42 sinking Apple's market capitalization by $4 billion. Apple quickly dispatched a memo reconfirming that the iPhone and Mac OS Leopard are on track for a June and October release, respectively.
Aware of the mistake, Engadget updated their story and Apple’s stock quickly rebounded, however it still closed the day down at $107.34. This is a true example of how influential some blogs have become and the responsibility that comes with that credibility. Gawker Media's Gizmodo, Engadget’s main competitor, had some thoughts on this matter too.