Apple 2.0

Mac news from outside the reality distortion field

Michael Jackson, Steve Jobs and Apple's share price


Michael Jackson hitsAs I see it, Apple's crack public relations team stage-managed the news last week of Steve Jobs' liver transplant pretty well on its own, somehow making it appear in the Wall Street Journal after the markets had closed for the weekend and in the middle of what was probably the company's biggest product release of the year.

By the time Monday rolled around and traders could react to the fact that what Jobs had initially described as a hormone imbalance was actually end stage liver disease, Apple was able to soften the blow with the news that it had just sold 1 million new iPhones.

The stock took a 3.9% hit — dropping from 139.48 to 134.01 in the space of two days. But by then Jobs had been spotted back on Apple's Cupertino campus walking on his own — without cane or wheelchair — and his surgical team had declared that he was "recovering well" with an "excellent prognosis."

Steve Jobs with stock priceBut there's nothing to help you forget the illness of one celebrity like the passing of an ever bigger one, and when Michael Jackson died on Thursday, all bets were off. The flood of searches on Jackson's name just before 3 p.m. PDT (6 p.m. EDT) was so abrupt and intense that at first Google thought it was under attack.

Meanwhile, interest in Steve Jobs, as gauged by Google Insights, flatlined, and pressure on Apple's shares lifted. Whoever was shorting Apple (AAPL), it seems, had moved on to better things.

The stock closed Friday at 142.44, higher by 2.52 points than it opened on Monday.

See also:

Michael Jackson photo: Rusty Kennedy/Associated Press; Steve Jobs photo: Getty Images

I agree with Toomey…empty space would have been better

Posted By Phil, Paramus, NJ: June 29, 2009 5:48 PM

Needed to fill empty space?

Empty space would have been better.

Posted By Toomy, NYC, NY: June 29, 2009 5:01 AM

Your analysis of the relationship between the Steve Jobs liver transplant news and the price of the stock is as lame as any I've seen. If typical no wonder most retail investors lose money.

Posted By Anon, Oakland, CA: June 28, 2009 4:41 PM

Posted By Jeremy Burnstein, Scottsdale, Arizona: June 28, 2009 6:30 AM

Hunting for clicks. Right?

What is the interest of an article like this one.

Sick headline by the way.

Posted By Alex NY: June 28, 2009 4:33 AM

What an unoriginal, boring rehash of opinions already expressed by MANY others over the past week.

ex ped: Oh? I must have missed them. Can you provide a sampling of links?

Posted By Mark, Sydney, AUSTRALIA: June 27, 2009 7:47 PM
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Philip Elmer-DeWitt

Philip Elmer-DeWitt
Steve Jobs, goes the old joke at Apple, is surrounded by a reality distortion field; get too close and you believe what he's saying. Apple has made believers out of millions of customers — and made a lot of investors rich — but Philip Elmer-DeWitt believes that an ounce of skepticism never hurts when writing about the company. He should know. He's been covering Apple – and watching Steve Jobs operate — since 1982.
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