Kids These Days: 18-Yr-Old Started Jobs Heart Attack Rumor (AAPL)

According to recent reports, an 18-year-old hooligan was the culprit who originally posted a rumor that Apple's (Nasdaq: AAPL) CEO, Steve Jobs, was rushed to the hospital on October 3 after suffering a heart attack. As the rumor hit the wires, shares of Apple tumbled, falling as much as 5.4% -- and losing about $4.8 billion in market value -- before an Apple spokesperson released a statement saying the rumor was not true.

The 18-year-old, who originally reported the rumor on CNN's iReport.com, is now under investigation by the SEC. Although examinations are not yet over, the SEC does not believe that he had any incentive to drive the stock down, ie., he was shorting the stock.

The false rumor has been highly publicized as Jobs' health has recently been a major concern for Apple investors.

Appearing at an Apple event on Tuesday of last week (Oct. 14), Steve Jobs made his first public appearance since the bunk report. Addressing the rumor, a comical Jobs disclosed his blood pressure to the audience and made no further mention of his health.

Apple, Inc. designs, manufactures, and sells personal computers, portable digital music players, and mobile communication devices, as well as related software, services, peripherals, and networking solutions worldwide.

You May Also Be Interested In

• Active options: AAPL NVDA TSLA SPCX AAPL MSTR INTC MRNA WMT
• Rothschild Redburn Upgrades Apple (AAPL) to Buy
• Scorpion Capital says short Twist Biosciences