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October 23, 2008 5:30 PM PDT

Report: Fake story about Steve Jobs planted by teenager

by Tom Krazit
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The teenager who submitted a fake story to CNN's iReport about Steve Jobs appears to have stayed away from the stock market that day, according to a report.

(Credit: James Martin/CNET News)

The fake story submitted to CNN's iReport site that Apple CEO Steve Jobs had suffered a heart attack was the work of an 18-year-old, according to a report.

Bloomberg is reporting that investigators have determined that the teenager planted the story on CNN's user-generated news site. But they have found no evidence that the suspect attempted to profit from the sharp drop in Apple's stock that occurred after Silicon Alley Insider picked up the CNN posting and published it before verifying whether it was true. The suspect was not named, but the Securities and Exchange Commission has been trying to determine if the story was planted with the idea of making money in the stock market, which would be a crime.

Apple has been forced to deal with all kinds of speculation regarding Jobs' health this year, and any report that his health might be in danger is sure to be met with a frantic response from Wall Street traders who believe Jobs' impact on Apple cannot be overstated.

Tom Krazit writes about the ever-expanding world of Internet search, including Google, Yahoo, online advertising, and portals, as well as the evolution of mobile computing. He has written about traditional PC companies, chip manufacturers, and mobile computers, spending the last three years covering Apple. E-mail Tom.
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by Mr. Dee October 23, 2008 6:22 PM PDT
Kids! I guess they were trying make Apple products cheap enough to buy. ;)
Reply to this comment
by Galaxy5 October 23, 2008 6:53 PM PDT
It was AppleSuxLeo, wasn't it? He disappeared from here shortly after the story ran and billions in stockholder equity disappeared.

Just kidding - but they should hold this kid and CNN responsible.
Reply to this comment
by this1! October 23, 2008 8:11 PM PDT
i get holding the kid responsible, but cnn, i disagree, if anything it should be the site that reported it with out verifying or fact checking in any way Silicon Alley Insider.
by victor_sf October 23, 2008 10:55 PM PDT
Are you kdding me? Greedy investors reacting to some unchecked story from a user-generated news site?! It's their fault that they believe everything. If I told them to jump off the Empire State Building are they going to do that? Leave the kid and CNN alone!
by Orion Blastar October 23, 2008 8:08 PM PDT
Kids today, in my day we used to just make prank phone calls to Drug Stores asking them "Do you have Prince Albert in a can?" and when they answered 'Yes" we'd say "Well let him out of the can before he suffocates!" and hang up and laugh about it.
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by Zanny_Blowzsteve October 23, 2008 9:04 PM PDT
On the other hand, if Steve Jobs and Apple were more honest & forthcoming in the past, then things like this would never have happened in the first place. Steve Jobs and Apple have no problem stretching the truth, or outright lying, when it benefits them.
Reply to this comment
by technewsjunkie October 24, 2008 2:32 AM PDT
"more honest and forthcoming"

"outright lying when it benefits them"

Stretching the truth is called marketing. Nothing unusual here, let alone evil.

Get a grip.
by ittesi259 October 24, 2008 8:49 AM PDT
An individual's health is not something that should be required to publicly report on.....thats ridiculous. You think that apple has been secretive with products fine, its called business....but if he misses a Dr.'s appt thats nobody's business. Get a grip already.
by applusr December 12, 2008 6:23 PM PST
You must be Zanny
by solitare_pax October 24, 2008 2:44 AM PDT
Whoever the kid is, it sounds like he has a great future on FOX news or one of the other mindless media networks that wouldn't know the truth if it hit them in the face...
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by marc_90292 October 24, 2008 8:45 AM PDT
Wouldn't know thw truth if it hit them in the face? I respectfully disagree. They know the truth but since it is inconvenient they don't report it. Here, it was convenient to report an unconfirmed story causing damage to investors.
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by basraw October 24, 2008 8:54 AM PDT
doesn't he look hiv+?
Reply to this comment
by fighter_of_C October 24, 2008 9:23 AM PDT
Steve does not look HIV POZ . He looks like a person who has/is going through chemotherapy.(Because someone has lost weight during an illness does not make them HIV POZ) I wish him and anyone else going through the battle of cancer the best of well wishes.
by GlennAllen October 24, 2008 9:21 AM PDT
"Kid"? "Boy"? He (she?) is an "adult"... legally, that is. Anyway, the people who believed it because they read it (because it was "in print") got what they deserved. "There's a fool born every minute"... and most of them invest in the Stock Market. (And people wonder why the economy is going in the toilet.)
Reply to this comment
by savagesteve13 October 24, 2008 12:22 PM PDT
Steve Jobs needs to hire a successor and parade him around to the public so the Apple fan(atics) can eventually accept the replacement.
Thats what Putin did with Medvedev.
Reply to this comment
by cprincipe October 25, 2008 10:07 AM PDT
Absolutely ridiculous that an 18 year old can plant a fake story on a user-contributed news site and it can actually cause changes the market.
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