Filed under: News | Technology News
Apple Stock plummets 10% despite Record Earnings
Jul 22 2008, 12:47am CDT | by Luigi Lugmayr
Apple reported yesterday their 3rd Quarter earnings and revenue was up 38% compared to a year ago. Additionally Mac sales reached an all-time high. The Apple stock fell almost 10% in after hour trading because investors are not pleased with the earnings forecast for the 4th quarter.
Apple argues that cross margins will fall as Apple introduces new unnamed products at price points rivals will not able to match.
An additional reason for why investors put the Apple stock under pressure is apparently the unclear situation about Steve Jobs health. Apple did not comment on the health situation. Steve Jobs is seen very much as a big part of Apple and its success. If he would have to leave the company there is currently no "plan B" visible to the outside that would give investors confidents that the Apple success story can continue.
See the Apple earnings release for full details on the sales numbers.
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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.
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