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wwdc 2008

Apple stock price falls amid news of iPhone 3G

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Video of the iPhone 3G

Apple’s stock is about 4% lower (as of 3:45 PM on the east coast) than it started today after Steve Jobs’ keynote speech at Apple’s World Wide Developers Conference. Trading opened at $184.92 per share this morning and is currently floating around $178 per share, with a daily high of $184.94 and a daily low of $175.75, according to Yahoo! Finance.

Apple’s stock price could have dropped for a number of reasons. The new iPhone 3G that was announced will be available in 70 countries on July 11th and will carry a base price of  $199 everywhere, and the relatively low price and the fact that the device won’t be available until next month may be contributing factors to the stock’s value. The new iPhone’s low price is good for consumers but might be making investors a bit nervous, although the almost-worldwide release should help matters. The low price comes with a catch, however; you must sign a two-year contract with AT&T.

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