October 3rd, 2008
Apple says report of Steve Jobs heart attack is false
updated: A citizen journalist’s report this morning that Apple CEO Steve Jobs had suffered a severe heart attack and been hospitalized is not true, Apple spokespeople told ZDNet this morning. The initial report cited an unnamed “reliable” source saying that Jobs was suffering chest pains and shortness of breath.
“It is not true,” Apple spokeswoman Katie Cotton said.
The news was first posted just after 9 am ET. Within an hour, Apple was calling it a false report.
The initial report, which sparked a flurry of Twitter conversation, was posted on CNN’s unfiltered citizen journalism site, called iReport. Critics were quick to note this morning that the news site failed its first big test by allowing false rumors to fly under a legitimate news source’s umbrella.
Reports like this could cause CNN to take a hit with its credibility. Even though it says it doesn’t filter citizen journalism, irresponsible postings can have an impact. In this case, Wall Street’s initial response caused shares of Apple to immediately drop almost 10 percent. Within 15 minutes, the stock had largely recovered, back above $100. In explaining its mission with iReport, CNN has said:
With this site, we want to share our passion about the news in a way that invites you — and everyone else — to share your passion about the news. At CNN we live for news. We love talking about it. And we know that there’s a whole lot more to it than what you see on TV or read on your favorite Web site. So we’ve launched an independent world where you, the iReport.com community, tell the stories we’re not used to seeing. And the most compelling, important, and urgent ones may get seen on CNN. So head on over the homepage and jump in. Tell your story and see how it connects to someone on the other side of the world — and build a new kind of news site, one made from communities of shared interests, impassioned discussions and great storytelling.
(update: CNN has issued a statement in response to the false report posted this morning about Steve Jobs suffering a heart attack. The statement reads: “iReport.com is an entirely user-generated site where the content is determined by the community. Content that does not comply with Community Guidelines will be removed. After the content in question was uploaded to iReport.com, the community brought it to our attention. Based on our Terms of Use that govern user behavior on iReport.com, the fraudulent content was removed from the site and the user’s account was disabled.”)
The bogus report, however, could have given someone a great opportunity to cash in on an Apple short sale. Check out the blip when the report hit.
The news was bound to cause Wall Street to react. Steve Jobs’ health has been a topic of conversation for several months, following an appearance at a conference in Spring where Jobs looked gaunt. In a call with analysts in July, the company was asked about a New York Post report that questioned whether Jobs was suffering complications from, or a reappearance of, the pancreatic cancer cured by surgery nearly four years ago. (The company responded that Jobs’ health was a private matter.)
Then, in late August, Bloomberg accidentally published a pre-written obituary for Jobs.
Last month, when Jobs took the public stage again to announce the newest line of iPod, he paused for a moment to poke fun at news events. As he stood on the stage, the screen behind him flashed the infamous Mark Twain quote: “The reports of my death are greatly exaggerated.”
As for the iReport user who posted the “story,” it should also be noted that he or she has no track record of posting previous items. Perhaps it’s time for an SEC investigation.
Here’s the user’s profile:
Sam Diaz is a senior editor at ZDNet. See his full profile and disclosure of his industry affiliations.
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