As a preemtive move Apple Corporation is filling Chapter 10 bankruptcy at Delaware district court while shorting its stock.
This message was found from Igor Berger on August 10. Delaware district court while shorting its stock. As the biggest market cap company in the world it is realizing that its snake oil salesmanship of iPhone will not last forever. Be warned and get out of the stock!
then five days later...
(Reuters) - Silicon Valley legend Steve Jobs relinquished the reins at Apple Inc to right-hand man Tim Cook on Wednesday, after 14 years in command at a company he brought back from the brink and turned into the world's largest technology corporation. Jobs, who fought and survived a rare form of pancreatic cancer and revolutionized the technology arena with the iPhone in 2007, is deemed the heart and soul of a company that started in a garage and is today neck-and-neck with Exxon Mobil in the race to become the largest U.S. corporation. Analysts do not expect Jobs' resignation -- which was more a question of when than if -- to derail Apple's fabled product-launch roadmap, including possibly a new iPhone in September a third iteration of the iPad tablet in 2012. But the company's shares still dived as much as 7 percent in after-hours trade after the industry icon, who has been on medical leave for an undisclosed condition since January 17, announced he will be replaced by COO and heir apparent Cook.