Apple gets eaten by the worm

Today Apple made some announcements and none of them were received well by the investors. There were some new iPod products announced but nothing earth moving. What has caused Apple to rot today was the news that they are slashing the price of the iPhone. And doing away with the lower 4Gb model. This is saying that Apple is NOT selling the iPhones as well as they had hoped. The hype had worn out and they were no longer moving. why else would a company slash prices on their product after only being on the market for a matter of weeks!

When a company releases a new product and the demand is high then there is no reason at all to cut the prices. So Apple coming out and announcing that they are discontinuing one of the units and slashing the price on the other says things are not going well for the iPhone.

I said back in May that it was time to get out of Apple, the hype had run it's course and that would be all there was going to be. Apple shares tried to get back above the trend line but failed, now the news of the iPhone will likely send Apple packing for some time.