Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 9:54:41 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

No Worm in Apple, Yet Stock Falls

Posted Jan 22, 08 10:23 PM CST in Technology,  Business 

(Newser) – Despite reporting record-high earnings, Apple saw its stocks fall more than 11% after the market closed today, the New York Times reports. Apple's lowered 2nd quarter earning expectations may have sparked the drop, analysts say, unless investors are anxious about the high-end electronics market in general as the US economy slows down.

"We'll leave the economic forecasting to others," said Peter Oppenheimer, Apple's CFO, who highlighted Apple's $1.58 billion earnings in the first quarter of 2008, up from $1 billion last year. Oppenheimer pointed to post-Christmas shopping lag and sluggish software sales to explain lower second-quarter projections.

Source New York Times

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Apple Stock Dives Amid Jobs Health Rumors

    Jul 22, 08 4:00 AM CDT
    Apple Stock Dives Amid Jobs Health Rumors Apple reported one of its best third-quarter results ever yesterday, but its stock took a 17% nosedive amid rumors that CEO Steve Jobs is in poor health, reports the San Jose Mercury News. Jobs, who beat pancreatic cancer four years ago, appeared gaunt at a conference last month. Investors were also rattled by the company's conservative outlook for the fourth quarter. More »

  • For Venture Capitalists, Wells Run Dry

    Jun 28, 08 10:04 AM CDT
    Wall Street has not been kind to venture capitalists in the second quarter. For the first time since 1978, not one company they backed went public, taking away their source of big paydays, the New York Times  reports. Observers cite a number of reasons, including lousy market conditions, a shift to investment in alternative energy companies that require time, and a lack of investor interest in the ventures themselves. More »

  • Errant iPhones? No Big Deal, Analyst Says

    Jan 28, 08 8:41 PM CST
    Errant iPhones? No Big Deal, Analyst Says An estimated 1.4 million iPhones that have been either inventoried or clandestinely unlocked may not pose a significant threat to techno-juggernaut Apple's overall profit. The "missing" phones could force stock prices to dip, "but if you look at Apple," reassures analyst Ezra Gottheil, "It's solidly profitable without the iPhone. The iPhone just takes it up to another level." More »

  • Dow Climbs 320, Ending Skid

    Nov 13, 07 3:48 PM CST
    Dow Climbs 320, Ending Skid The Dow shot up by nearly 320 today, ending 4 days of declines as the markets bounced back in a rally led by financial stocks. A drop in oil prices helped, as did the announcement that Apple was planning to sell its iPhone in China, reports Bloomberg. The Dow surged 319.54 to 13,307.09, the Nasdaq was up 89.52 to 2673.65, and the S&P 500 gained 1.86 to 1481.04. More »

  • Economy Slows, Stocks Surge: What Gives?

    Oct 6, 07 6:54 PM CDT
    Economy Slows, Stocks Surge: What Gives? Stocks are surging while classic indicators are signaling slump — so what gives? The answer, reports the Washington Post, lies in a bright jobs report and spiking Standard & Poor's 500-stock index. Backers are dissing the bad news as fast as they can finance, says the Post: "Call them the Teflon investors."
      More »

Apple CEO Steve Jobs gestures during his keynote address at the MacWorld conference in San Francisco, Tuesday, Jan. 14, 2008. Apple Inc. is scheduled to report first-quarter financial results after the...   (Associated Press)
Prices for Apple, Ebay and Yahoo stocks are displayed before the open of the Nasdaq stock market on Tuesday, Jan. 22, 2008 in New York. Wall Street struggled to steady itself Tuesday, climbing back from...   (Associated Press)
This photo provided by Apple of the newly released MacBook Air in this photo taken on Aug. 14, 2007. (AP Photo/Apple, ho)   (Associated Press)
Apple's new pink iPod nano is perfect for anyone wanting a gorgeous splash of spring or a special Valentine's Day gift. (PRNewsFoto/Apple)   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 3)

Tags

Apple  • stock market  • iPhone  • Wall Street  • investors  • quarterly results


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »