Spread the love! TechSpot Tech Gift Shortlist 2017

Dow Jones accidentally posts fake story about Google buying Apple for $9 billion

By midian182 · 10 replies
Oct 11, 2017
Post New Reply
  1. With an estimated market value of around $835 billion, Apple is one of the largest companies in the world. When the Dow Jones newswire published an unbelievable story claiming rival Google was about to buy the iPhone maker for a paltry $9 billion, everyone knew it wasn’t real – but the news still sent Apple’s shares up temporarily.

    The story claimed former CEOs Larry Page and Steve Jobs started talking about an acquisition back in 2010, and that the deal was outlined in Jobs’ will. The takeover was supposed to close today and would give Google nine shares of Apple stock for every Google share.

    “In a surprise move to anyone who is alive, Google said it’s going to buy Apple for $9 billion,” read the report. “Google Chief Executive Larry Page had secret talks with the now-deceased Steve Jobs in 2010 to firm up the deal.” Larry Page, of course, hasn't been Google CEO since Alphabet's creation in 2015.

    Luckily for Google’s staff, the report added that they would be moving into Apple’s “fancy” headquarters. One of the workers was so happy about the news, they were quoted as saying “Yay.”

    This was, of course, all an error on the part of Dow Jones. “The items, which were never intended for publication, were accidentally published as part of a technology test,” a spokesperson explained in a statement. Companies often write fake stories to test internal systems, but it seems someone accidentally hit a wrong button in this instance.

    While the item is clearly fake and led to speculation that the Dow Jones had been hacked, automatic trading algorithms couldn't identify it as false and boosted Apple’s shares up $2 to $158 per share.

    William Lewis, CEO of Dow Jones and Publisher of The Wall Street Journal put out the following statement: “I take today’s inadvertent and erroneous publication of testing materials extremely seriously. While immediate corrective action has been taken, I have also ordered a review of news and technology processes in this area.”

    Permalink to story.

     
  2. VitalyT

    VitalyT Russ-Puss Posts: 3,619   +1,913

    9bln for a company with marketing capitalization of 805bln, is quite a discount.

    Google, you wish! :) Your Mkt cap is only 679bln, you ain't got the juice to even insinuate.
     
  3. Jaabaaar

    Jaabaaar TS Rookie

    It would be good to get all the good stuff of android on my iPhone. But, alas, it’s a dream and a fake story. Fake news just like Trump says it is.
     
  4. VitalyT

    VitalyT Russ-Puss Posts: 3,619   +1,913

    Everything related to Trump is fake, starting with himself being a fake president. He should host on www.theonion.com.
     
  5. Skidmarksdeluxe

    Skidmarksdeluxe TS Evangelist Posts: 8,647   +3,272

    9 bn? Not bad. Maybe Google can haggle a bit more and get a bigger discount.
     
  6. senketsu

    senketsu TS Addict Posts: 235   +139

    Look into who 'accidentally' made some money due to this mistake..(stock price change)
     
    Tanstar likes this.
  7. Uncle Al

    Uncle Al TS Evangelist Posts: 3,254   +1,934

    Hmmmmm ..... is it possible these are the same folks that are protecting our battle plans for North Korea?
     
  8. mailpup

    mailpup TS Special Forces Posts: 7,163   +465

    Speaking of fake news...

    In the old days this would be called spin.
     
  9. Athlonite

    Athlonite TS Enthusiast Posts: 87   +18

    Nope it would have been known as BS and the person responsible would be sacked
     
  10. commanderasus

    commanderasus TS Booster Posts: 182   +65

    [​IMG]
     
    Athlonite likes this.
  11. Jaabaaar

    Jaabaaar TS Rookie

    Well it’s a company that not on 10 years been able to add the capability of adding a sd card or microsd card. Some other manuafacturers even give you the choice of an extra sim or micro sd card in the same slot. They could do with being taking over by google or Microsoft to show them how it’s done. Countless other examples of laziness I can think of.
     
    Athlonite likes this.

Similar Topics

Add your comment to this article

You need to be a member to leave a comment. Join thousands of tech enthusiasts and participate.
TechSpot Account You may also...