TheStreet.com Rumor: Apple to announce major battery recall

[FearlessFreep]

My battery is fine. My battery indicator is the thing that's broken.

 

[MBHockey]

Wow what a sensationalist thread title. When did MR turn into Digg?

 

[That70sGAdawg]

This is likely the MacBook Air! Lots of battery issues.
Someone PLEASE change the title of this thread, as there is NO basis for assuming this is the iPhone, or 3G iPhone...

 

[bbydon]

Steven Wu also works in the banking industry and that guy really sucks at predicting things

 

[kabunaru]

When did MR turn into Digg?

Why are you guys over-sceptical over everything?

 

[t0mat0]

Why are you guys over-sceptical over everything?

Hehe, you haven't followed enough WhySoSerious threads


ooooh, what's that at the bottom?

At the time of publication, Kass and/or his funds were long Berkshire Hathaway and short Apple and Wachovia, although holdings can change at any time.

In other news, at #5:

Microsoft MSFT is over Yahoo!

Mmmm, pass the salt... What's the betting they stop going short, prior to the 2nd launch wave?

 

[Rybold]

this Rumor Is Completely Unsubstantiated !!!

 

[t0mat0]

this Rumor Is Completely Unsubstantiated !!!

Let's quote some 9to5mac.com Seth goodness:

The Street, which is about .01% correct in picking Apple information has a doozy today that is obviously inclined to drop the stock price. Today, they predict that Apple is planning a massive recall on batteries. They go on to say "Additionally, it is rumored that AT&T will be awarded another year to be the exclusive carrier of the iPhone in the U.S. and that Apple will be refreshing its notebook line in time for the back-to-school season."

********.

This sounds a bit like their 2007 prediction in which they announced that Steve Jobs is going to take a leave of absence from the company and Eric Schmidt would be taking over. Or this one where Steve Jobs is getting sent up the river on options charges. Stock drops temporarily... a lot of money changes hands.

Doug Kass is the face behind these predictions. Anyone think this will come true? Will the stock drop? Will Kass's constituents make a boatload of money?

How obvious does market manipulation have to get before someone calls them out?

SEC? Anyone home?

Oh, and the flip side is that Apple is selling iPhones like iPancakes. MacBooks will be released in late September (after school starts) and the AT&T rumor speculated by USA Today goes against their earlier statement that AT&T inked a 5 year deal with Apple. Likely, neither are true.

If you want advice on Apple stock, perhaps trying Cramerwatch.org's monkey (the primate has a better record than the Street's founder, Jim Cramer) would be a better choice.

The site features Leonard 'The Wonder Monkey,' CramerWatch.org's resident stock picker who recommends buying or selling the stocks that appear on Mr. Cramer's nightly 'Lightning Round' by simply flipping a coin.

 

[Mikey B]

It would be so bad for Apple to do this in a massive scale... better in the long run, but horrible press for Apple, unless they can make it sound like it wasn't their fault.

actually, i think that's not true and it's actually quite the opposite. it's always in a company's best interest to admit their mistakes and try to make it right. i think apple will got heaps of great press if they replace defective 3G batteries. it shows a deep commitment to customer service and their dedication to having the best possible product out there. i don't think they have to try and shift blame at all. they don't even have to lay blame. just admit the problem and fix it.

 

[MBHockey]

Why are you guys over-sceptical over everything?

Maybe it's subtle (only to you?), but I was referring to the title of the thread. See it now?

 

[alphaod]

Yeah recall--right.

As I recall the last recall for iPod batteries was just reimbursement.

 

[mkrishnan]

As I recall the last recall for iPod batteries was just reimbursement.

Once again, the rumor didn't even say anything about the iPhone. Apple has recalled batteries (iBook and Powerbook) in the very recent past, as have many other OEMs. That most recent spate of recalls were recalls and not reimbursement because the issue was not poor life but a tiny fraction of batteries catching fire.

It's not inconceivable that there could be a battery recall of some kind. It's probably not for the iPhone. But then there is at least one report of fan iPhone spontaneously heating enough to melt plastic. That's 99% likely to be a battery issue, assuming it's legitimate. If something like that were to prove not to be just a one-in-a-billion fluke, but an issue that could affect even a tiny number of other iPhones, it would be a safety issue and there would likely be a voluntary recall....

 

[kabunaru]

ooooh, what's that at the bottom?

What do you mean?

 

[t0mat0]

What do you mean?

The disclaimer, saying there position was short on Apple. As Seth said, the rumours are so unfounded as to be dodgy market manipulation, from those who can't see the rumour is a bunch of crock.

Remember the Bear Stearns fiasco? Remember him saying "don't move your money from Bear" being so vague as to seem it was a stay on the stock, rather than just keeping your money in the bank? Ooops. Did he just forget to say "common stock"?


http://www.chrisperruna.com/2008/03/20/cramers-thestreetcom-sneaky/

Seems though thestreet.com had a buy recommendation though.
The guy is beaten by a chimp picking stock by flipping a coin it seems. Kinda says something about his tips.