Google’s Autocomplete Advised to Sell Apple SharesAdded: Tuesday, January 8th, 2013
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The search giant has apologized to all consumers who were upset that Google’s share advice on Apple was set to “sell”. The matter is that when people typed in “sell” in the search bar on Google Finance, they were automatically directed to the page for Apple’s stock.
Press claimed that Google must know something it didn’t, and accused the company of intentional undermining the value of Apple’s stock. Some seemed to be implying that because the company’s Android was a rival to Cupertino, so Google used its own search system to cause financial problems for Apple. Overall, the situation became so bad that a Google’s representative was dusted off to make a comment. He explained that this happened because of its algorithm rather than any concerted effort to undermine Apple’s shares. It turned out that the algorithms were keying off of the words 'sell' and "sells" in the description of this stock symbol. The search engine is currently working on how to adjust this and prevent it from happening again.
According to press reports, the algorithm is already fixed, so when you search for "sell" on Google Finance, it brings up a list of stocks, but Apple is off the list. But there might be a very good reason for Apple being on Google’s sell list – its shares were actually overpriced and had lost almost 1/3 of their value in the last quarter.
Indeed, the company’s share price peaked above $700 last September and is now trading a little bit above $500. Actually, Apple's stock is down much less than either Hewlett-Packard or RIM, but this plummeting has cost Apple shareholders a lot more money.
According to the latest business reviews, Apple shareholders have lost $175 billion within the last 3 months. Although true Apple shares were worth much more than a year ago, those who invested only three months ago lost a lot.
Moreover, the experts believe it’s likely that the share price in Apple will fall further after shareholders realize that China failed to be the low hanging fruit as some press reports previously claimed. The search giant’s algorithm, it could be argued, was working perfectly before it was tweaked to factor in the Reality Distortion Field that the company and its cohorts work under.
January 8th,2013Posted by:
Tuesday, January 8th, 2013No comments
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