Apple stock dips after celebrity photo scandal

Shares of Apple stock are coming back down to earth after reaching historic highs.

The company’s stock fell more than 3 percent to just under $100 per share Wednesday morning. The drop came on the day that arch-rival Samsung debuted new smartphones and a virtual reality headset, threatening to steal some of Apple’s thunder ahead of a  high-profile event scheduled for next week.

What’s more, Apple is reeling from a scandal in which dozens of risqué celebrity photos were reportedly stolen from iCloud. The company issued a statement Tuesday saying that its systems were not to blame for the breach, which victimized stars ranging from Jennifer Lawrence to Kirsten Dunst.

Although Apple is still weathering the fallout from the scandal, analyst John Jackson of IDC said the company was wise to tackle the issue head-on.

“Apple has done the right thin from a crisis management perspective by getting ahead of it,” he said.

Apple’s stock is taking a dip amid new offerings from its competitors and continued outrage over the theft of intimate celebrity pictures. (Kevork Djansezian/Getty Images).

 

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  • derasa

    Very “convenient” hacking into whatever previous to Iphone 6 launch, and possible Payment System. Indeed very “convenient”..

  • Guest

    I didn’t only happen to Apple.

  • hiramwalker

    If you are a celebrity taking nude pictures of yourself, I would certainly think enabling the extra security of two step verification would be a good idea, and if you are not tech savvy enough to understand that, your highly paid manager or agent should be making sure these things are taken care of for you.

  • Richard Van Eck

    Let’s keep this in perspective, people. The breach was of people’s PASSWORDS and USERNAMES based on weak account info by those people. iCloud and Apple’s servers were in NO WAY hacked. The worst you can say is that Apple did not force people to create higher security passwords–but if they had, they’d be accused of telling people what to do.

    A) Don’t put compromising photos anywhere online (duh)
    B) Use stronger passwords and a password manager to generate and track them.

    • Jim

      Actually, no. You are dead wrong. The service that hackers used to brute force passwords was Location Services (find my phone). They found a way to call the API an unlimited amount of times without a maximum retry limit. This allows for the brute force password cracker to attempt millions of passwords in a matter of seconds. Anyone’s password, despite how random, can be guessed in a matter of days, or even hours. This is 100% Apple’s fault.

      • Dave

        Exactly!!! The media is so “pro-Apple” that no one has stated the obvious – there are simple safeguards that could have been in place, that would not affect the user experience and would have prevented this from happening. And Apple, in classic Apple style says – it’s the users fault for not using better passwords – completely wrong, misleading and condescending all at the same time!!!

 
 
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