etvfutures.com
etvfutures.com October 20, 2017


Dow Jones Reports Google Bought Apple Due To 'Technical Error'

11 October 2017, 04:08 | Brandon Parsons

Dow Doh! Fake News About Google Apple Merger Causes Market Uproar AFP 2017 EMMANUEL DUNAND LOIC VENANCE

Google's logo and Apple's logo

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.

The story describes a "surprise" move that was struck between Google CEO Larry Page and the late Steve Jobs before the Apple co-founders' passing that ignited the deal. No, it's fake news, and we don't have Facebook to blame for it, or at least not directly. Supposedly, Google is buying Apple for a mere $9 billion, which is quite hilarious given that Apple's market capitalization stands at $803.6 billion, and some have seen a $1 trillion market cap as being within striking distance for the iPhone maker. It even included a line saying: "Google employees said, "Yay".

Whilst the contents of the story make it obvious that the news is completely fake, the existence of real-time high-speed trading means the jump to $158 was nearly certainly caused by automatic computer algorithms rather than real people. It's also worth mentioning that Dow Jones rectified this pretty quickly by removing the fake stories. Apparently, the Dow Jones Newswires had some type of "technical error" which caused the release of several false stories about Google buying Apple.

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Dow Jones regrets the erroneous headlines published on its Dow Jones Newswires this morning between 9:34 and 9:36 AM ET.

Dow Jones has since put out a statement saying that the freaky, now removed, headlines were the result of a "technical error".

The company issued a statement to dedicated Apple site 9to5Mac, which first reported on the drama. "We apologise for the error".



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