Apple Shares Drop As Forecast Misses Analysts' Expectations

Posted: Jan 23 2008, 12:15am CST | by , Updated: Aug 11 2010, 5:48am CDT, in Technology News


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Apple Shares drop as Forecast misses Analysts' Expectations

Apple announced their quarterly numbers after the market closed on Tuesday.

In after hours trading the Apple stock lost 11% and currently is at $137.93.

Besides the missed forecast the iPod shipments during the Holidays also disappointed Wall Street with 22.1 million units. This is an increase of 5% over the same period a year earlier, but below analysts’ expectations which have been between 22.4 and 25 million units.
Apple shipped 2.3 million iPhones, 2.3 million Mac computers in the last quarter.

Apple, known for its conservative financial forecasts, said earnings for the second quarter would be 94 cents per share, versus the average analyst target of $1.08, and revenue of $6.8 billion, versus Wall Street's $7.0 billion target.
More details on Reuters.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
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