Chicago (IL) – An “iReporter” published a brief story on CNN.com, claiming that Apple CEO Steve Jobs was rushed to the emergency room after he suffered a major heart attack earlier this morning. Apple’s stock plunged by about 10% as a result, but recovered as Apple denied what now appears to have been either an irresponsible post or a tasteless joke.

A brief post appeared earlier today this morning on CNN’s iReport site, indicating that Steve Jobs may be in hospital following a heart attack. The submission from an iReporter, “citizen journalists” who provide CNN with comments, images and even brief articles on events around the world, was removed from CNN’s website shortly thereafter, but picked up by other websites, including Silicon Alley Insider:

"Steve Jobs was rushed to the ER just a few hours ago after suffering a major heart attack. I have an insider who tells me that paramedics were called after Steve claimed to be suffering from severe chest pains and shortness of breath," wrote so-called journalist. "My source has opted to remain anonymous, but he is quite reliable. I haven't seen anything about this anywhere else yet, and as of right now, I have no further information, so I thought this would be a good place to start. If anyone else has more information, please share it."
 
The stock market reacted almost immediately and sent the stock down almost 10% to a 17-month low of $94.65. However, Apple spokesman Steve Dowling denied the claim in a conversation with Reuters. "It is not true," he wrote in an email to Reuters. Asked for further details about the status of Jobs' health, Dowling repeated: "The story is not true." Following Apple's prompt denial, the stock recovered and climbed to $104.04 at the time of this writing.

The latest media incident that involves beloved Apple's CEO health comes on heels of a recent blunder when Bloomberg accidentally published a draft of Steve Jobs obituary. It struck a chord with Jobs’ sense of humor so he kicked of last month's iPod event with the Mark Twain quote: "The reports of my death are greatly exaggerated."

Today’s CNN incident once again shows the close ties of the person of Steve Jobs to the success of Apple. Reports of health issues of the Apple CEO have repeatedly impacted Apple’s stock and the report of a possible heart attack and the subsequent decline of the stock once more indicated how much Apple really depends on Jobs.

On the other side, CNN may draw its own conclusion and is more than likely to implement more effective control on which story is published and which not.    

Retraction?

Oct 03, 2008 12:05     

Other news sites are carrying the story, but any reasonable amount of poking around can't turn it up on CNN . Can Apple/Jobs sue CNN for libel due to the actions of an "iReporter"?
Jim L report abuse vote down vote up Votes: +1

Lots of money in hands of fools

Oct 03, 2008 17:39     

Shows once again how lots of money and power is in the hands of amateurs and fools. An unfounded rumor pops up, instead of carefully checking the facts, idiots respond with knee-jerk reactions, stocks drop, money market funds with our money in it drop in value, etc. No wonder the financial market is a mess. Just a small example of how much these markets are based on reality.
Patrick report abuse vote down vote up Votes: +1

SEC now involved

Oct 03, 2008 18:06     

Investigation currently underway by toothless, ball-less SEC. They hope to scold someone soon. Wish they would grow some testicles...hear me, Cox?
jim report abuse vote down vote up Votes: +0

Jobs is so ingrained in apple...

Oct 03, 2008 19:08     

...that making illegal money manipulating their stock is as easy as starting a rumor about his health? hilarious.
Scott report abuse vote down vote up Votes: +0