Apple's app sends shares of card makers tumbling

Oct 04, 2011

(AP) -- A brief mention of a new app that lets people design and send greeting through the mail with an iPhone is sending the stocks of greeting card companies tumbling.

Scott Forstall, Apple's senior vice president for iOS introduced the $2.99 app at an event at the company's Cupertino, California headquarters Tuesday.

Word that there's now an easy way to send greeting cards with an app sent shares of Shutterfly Inc. down nearly 11 percent. Shutterfly lets people share digital photos and print them out.

American Greetings Corp., based in Cleveland, is down nearly 8 percent. International Greetings PLC is down 8 percent on the London Stock Exchange where it's traded.

Apple is introducing the 4S, the next version of its popular smartphones.

Explore further: Tecnalia designs an app to help elderly people get around on public transport

4 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Google says Apple rejected Voice app for iPhone

Sep 18, 2009

(AP) -- Google Inc. said Apple Inc.'s top marketing executive personally told the company that its Google Voice application had been rejected because it duplicates the telephone dialer on the iPhone and could be used as ...

Payment startup Square rolls out iPad sales app

May 23, 2011

(AP) -- First, mobile payment service Square made it easier for merchants to accept credit cards anytime, anywhere, with just a smart phone and a tiny, plastic credit-card reader. Now the startup led by Twitter co-founder ...

Recommended for you

Google worker shows early-draft glimpse of Chrome OS

Jul 20, 2014

The Chrome OS is in for a future look. Athena, a Chromium OS project, will bring forth the new Chrome OS user experience. Google's François Beaufort on Friday, referring to the screenshot he posted, said," ...

Google eyes Chrome on Windows laptop battery drain

Jul 19, 2014

Google Chrome on Microsoft Windows has been said to have a problem for some time but this week comes news that Google will give it the attention others think the problem quite deserves. Namely, Google is to ...

User comments : 1

Adjust slider to filter visible comments by rank

Display comments: newest first

CHollman82
1 / 5 (1) Oct 07, 2011
Just shows how stupid the people in control of the stock market are (by which I mean average Americans). Apps have existed to send e-greetings for a decade at least. The fact remains that it is not the same as a physical card... I don't see anyone passing around their cell phones at little Timmy's birthday party...