We knew that the reception issues with the iPhone 4 would have a negative aftermath for Apple, however that it would be so bad does surprise us a bit. Recently the shares of Apple have dropped almost 4% from their 50-day average price of $256.26 to $246.43.
According to Reuters, “JP Morgan warned that reports of wireless reception problems on the smartphone, which competes with Research in Motion’s Blackberry and Palm’s Pre, may eventually affect demand.”
“Apple shares are down on concerns about a possible defect with the new iPhone 4. Worries that iPhone 4 might be a lemon is weighing on their shares,” said Frederic Ruffy, options strategists at Web information site WhatsTrading.com.