Jobs Sandbags the Daytraders
It seems like some folks were too trigger happy with AAPL today. CEO Steve Jobs started out by saying, "we're only talking about the mac today". That launched a flurry of selling, as many had anticipated product announcements about the iPhone, etc.
AAPL traded all the way back down into negative territory before Jobs got around to the good stuff. He then introduced the iPhone, calling it a revolutionary product.
He also announced the Apple TV (formerly iTV), and said the company would partner with Paramount for movies. Also, content from iTunes could be transmitted wirelessy to the Apple TV.
The products look really snazzy, and it didn't take long for the stock to ramp higher. It is currently up $4.30 on the day. All I can say to those who sold it on that first headline is, "Doh!".