New iPod, Stock Price, and What I Missed

Yesterday I posted about the new iPod, and how it might cannibalize the iPhone because it was the same device without the phone, and I blamed it's plummeting stock price on that. Well, looks like I totally missed it, and was wrong, but I've come back today to rectify my mistakes. First, the new iPod is still just the iPhone without the phone, and is still $299 for an 8GB version. But there was also news yesterday that the iPhone was getting a dramatic price drop. From $599 to $399 for the 8GB. So cannibalization isn't the problem, it's this drop so soon after the initial release. What did all those people pay $599 for, right? I think that's way too soon for a drop, and so does Apple apparently. They're giving $100 rebates as an apology to all who paid full price. Now, I see why they did it, but you also understand why the stockholders, who I'm sure got iPhones before the drop, would get pissed. So now, I want the iPhone again, but I'm going to wait until it's open to 3rd party apps.

Also, I would like to add that, as this post is about stock, I have a stock pick. It's actually not even out yet, but I have a feeling it will be soon. When Facebook has it's IPO, I think I might buy some stock. It's been making some serious moves. So has Google, and from what I have a feeling is going to happen soon (I'm holding out for the GPhone, just wait), now is a great time to buy Google stock, but I don't have the $525/share. If only I could have jumped when it was at $150...