Yesterday turned out to be quite a ride for some Apple investors. The day started off well even with the bad news that Amazon will begin competing with iTunes in the sale of DRM-free music.

Then at 11:49am EST Engadget posted a story claiming that the iPhone and Mac OS X Leopard would be delayed. Without naming a source or specifying that it was unconfirmed the site published that the iPhone would be delayed until October and Leopard until January 2008.

The original post from Engadget:

This one doesn’t bode well for Mac fans and the iPhone-hopeful: we have it on authority that as of today, the iPhone launch is being pushed back from June to… October (!), and Leopard is again seeing a delay, this time being pushed all the way back to January. Of 2008. The latest WWDC Leopard beta will still be handed out, but it looks like Apple-quality takes time, and we’re sure Jobs would remind everyone that it’s not always about “writing a check”, but just how much time are these two products really going to take?

AAPL stock dives 3% during Engadget fiascoAAPL stock dives 3% during Engadget fiasco

Stock in AAPL began falling quickly, going from $107.89 to $103.42 in just six minutes. It is predicted that the 3% drop in price lost Apple $4 billion in market cap and some news organisations are reporting that individuals sold off millions of shares.

It turns out that the information Engadget recieved was false and the site was quick to update its story and Apple quickly notified Engadget of its error.

Apple stated in an email to Engadget that; “This communication is fake and did not come from Apple. Apple is on track to ship iPhone in late June and Mac OS X Leopard in October.”

Enadget continues to claim that the communication they received came from the interns of Apple HQ.

Some reporters are calling for the SEC to investigate the ongoings.

Apple’s stock soon recovered ending trading down just $1.40 from where it started.