Tuesday, 17 July, 2018

Dow Jones reported a fake story about Google buying Apple

Larry Page and Steve Jobs GETTYThe story describes a “surprise” move that was struck between Google and Apple
Sherri Watson | 11 October, 2017, 04:08

Obviously, every element of the story is made up, but it's pretty amusing to see the temporal blip on Apple's stock price, which briefly spiked up to $158.

Of course it was all fake news. The fake news story said Google employees would be moving into Apple's headquarters.

The story claimed that the late Steve Jobs had made a deal with Alphabet chief executive Larry Page before the former died in 2010.

Apple Inc. has a current market capitalization of approximately $800 billion so the fake bid would likely have been rejected without question anyway.

It ended with the claim that "Google employees said "Yay".

The technical error resulted in a ludicrous story stating Google acquiring its biggest competitor for $9billion (£6.8billion) and that each Google shareholder would be entitled to nine shares of Apple stock. But it did prompt a slight spike in Apple's share price, due to bots, or automatic computer algorithms buying up the share as most humans wouldn't have believed the story to be legitimate.

Dow Jones regrets the erroneous headlines published on its Dow Jones Newswires this morning between 9:34 and 9:36 AM ET. Dow Jones staffers apparently did that at some point in the past, then someone screwed up by pushing the "publish" button. "All of those headlines are being removed from the wires", Severinghaus said in the statement.

A Dow Jones spokesperson told Gizmodo the firm is conducting an internal review of the incident. "We apologize for the error", it said in a statement.