"The newspaper said his wife Micheline Roquebrune, 77, was always frightened to pick up the phone when he was out on the streets of Manhattan in case of bad news," wrote the Mail in its report, adding, "The inference was that he can sometimes not find his way home".
But Connery's publicist, Nancy Seltzer, later denied the report, branding it "silly" and "ridiculous".
"I'm sure Michael was misquoted," Seltzer told The Mirror. "Articles also say Sean lives in Spain which you, of course, know not to be true. Honestly, I don't want to give this story any credence by responding."
Caine has also chimed in on the report which, incidentally, has now been removed from the Mail Online website.
"It's all bulls***, completely preposterous," Caine told The Mirror.
"I did some interviews over in Germany for a new film and I can only assume someone has twisted my words or got the wrong end of the stick.
"I haven't seen Sean for a couple of years, but my wife and I spoke to him on the phone on his birthday this week and he was very well.
"He was fine, in complete control of his senses and his usual self.
"This stuff about Alzheimer's is just nonsense. I have no idea where they are getting it from."
He also told The Daily Record: "I know Sean was quite ill a year or so ago. But he is much better now and it was never anything to do with his mental state."
Another close pal of Connery said: "I spoke to him last week and I've spoken to him every month for the past seven years and I've never heard anything like it.
"He's as on the ball and as mischievous as ever and I've not seen one iota of anything like this. I can only think that something has been lost in translation.
"Even if it were true, I can't even imagine Michael Caine saying something like that as it's so inappropriate.
"Perhaps it was a joke which the Germans have taken completely out of context."
NOTABLE NUGGETS
And finally ...
* Grin and bare it: Madonna says her gilded grill is "here to stay."
* Raise your foam fingers, folks: Miley Cyrus brags that her half-naked, twerking escapades at the MTV VMAs was a social media triumph. "Smilers! My VMA performance had 306.000 tweets per minute," the songbird posted on her Twitter account. "That's more than the blackout or Superbowl! #fact."
* "She is in a good place" - Paris Jackson's grandmother breaks silence on teen's hospitalisation after reported suicide attempt.
* A former Scientologist from Norway has come forward to claim to have "auditioned" to be Tom Cruise's wife back in 2005.
* Sorry *NSync fans, that fleeting reunion at the VMAs was a one-off.
* Oh, yes please! Tina Fey and Amy Poehler reportedly approached to return as Golden Globe hosts.
* Ricky Martin opens up to GQ Australia, says he used to have "internalised homophobia".
* Vin Diesel honoured with star on Hollywood Walk of Fame.
* Naomi Watts talks Princess Diana biopic, worries about how William and Harry will react to the film.
* Listen: Eminem goes Berzerk for new single.
* One Direction responds to Taylor Swift's VMAs diss.
- Rumour Has It
