One Bad Apple

Well, I’m glad they’re losing money too:

SAN FRANCISCO, California (AP) -- Apple Inc.'s price cut of its iPhone and new lineup of iPod players are expected to ring in healthy holiday sales, but Wall Street investors accustomed to Apple's meaty profit margins appear a bit disappointed.

Apple stock dropped more than 5 percent after the price cut was announced Wednesday, closing at $136.76, down $7.40. In extended trading, the share price fell another $1.01.

Meanwhile, gadget enthusiasts who snapped up the ballyhooed iPhone before Wednesday are coping with a bitter aftertaste now that it is $200 cheaper within 10 weeks of its introduction.

Yes, I’m coping by blogging about it here and wishing I had the $400 dollars in early-bird fees (for 2 iPhones) back in my wallet.