Apple’s forecast ‘spooks’ stock investors

Posted By on January 23, 2008

AAPL 1/23/2008Apple Inc. reported that their holiday quarter was strong showing profits were up 57% during the three months that ended December 29th. Unfortunately investors who are concerned that the slowing economy will ding Apple in 2008. Forecasts from Apple, which are usually conservative, were for a 94 cents per share this second fiscal quarter, far short of the $1.09 per share analysts were expecting. Traders and investors took this news negatively and sold shares at the opening bell; this drove AAPL down $18 per share, nearly a 13% drop today. There has been a significant decline from last month as shares of AAPL were as high as $202. Today shares are selling for less than $135.

Pre-market news this morning highlighted Apple, and the clip below includes a comical line by Steve Jobs while discussing the iPod threat from Microsoft’s Zune music player. Do you know someone with a Zune?

Comments

  • Just as the stock market did yesterday, the deep declines of the morning preceded a comeback at the end of the day. DOW Industrials closed ‘up’ 298 points at 12,270.

    After being down as low as $126.14, Apple (AAPL) the focused stock mentioned above closed near its daily high — $139.07 … still down 10.65% on the day.

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.