In that comment, Jobs noted that the iPhone would support third-party developers through is Safari Web browser, which was going to be incorporated into the product. Developers, however, would have to use so-called “Web 2.0” applications. Immediately after he finished, tech commentators appearing on CNBC called that announcement “disappointing” in that the company isn’t offering Applications Programming Interfaces (API) to specifically support developers. On the other hand, programs written for the Mac should work on the iPhone.
This is how the stock behaves in a highly-sensitive market reaction to news. You can’t possibly find any flaw in the presentation by Steve, it just that the audience or more specifically the commentators need to be continuously feed with super-good news all the time. If they can find a small hole to squeeze in for a negative comment, people will just take the opportunity to start bashing the stock. And because the estimated 5,000 engineers and programmers were not given the red meat, some smart techies started to throw in spanners.
Earlier, I’ve mentioned that I was optimistic with Apple’s shares and I’m still having confidence with Steve’s leadership. To me the decision by Steven to give a little space for have for third-party incorporation into the iPhone is better than a total lock-down. Remember that Apple’s products have been very proprietary all this while and Steve didn’t promise open-system either during the first announcement of iPhone months ago. So why whine now? Yeah, I know it’s good to strip the iPhone operating system naked so that some geeks can get their hands on the cool gadget and do whatever they want. Get real, iPhone is not an open-system and it needs to ensure not every Tom, Dick and Geeks can load some un-verified software and possibly crash it (and point the finger at Apple’s stability).
Having said that, I’m a stock investor and I react to what I see. While I still long on Apple stock, I also opened some “Put” positions on this guy as the sentiments are so strong and everyone seems to be happy in seeing Apple collapse. When the stock traded at a lower point than the lowest of the first 45 minutes with huge volume and Level II against the odd, you better start doing something. You should see how the hell-break-loose and the panic-selling emerge out of a sudden – it was so exciting. So, if you can’t fight them, join them.
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June 12th, 2007 by financetwitter
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