This will be an interesting price elasticity test
Chief executive Steve Jobs cut the price on the current MacBook models to $999 yesterday at an event at Apple's headquarters in Cupertino, Calif. He also introduced an aluminum-clad version with a glass display that will sell for $1,299 and updated the MacBook Pro line with slimmer models.
The stock fell 5.6 percent. Investors may be concerned the price reduction won't be big enough to persuade consumers to buy amid the economic slump, said Piper Jaffray & Co. analyst Gene Munster.