Apple stock down 30% in less than a month

#1 (**permalink**) 01-23-2008, 01:29 AM

That makes the Sprint meltdown pale in comparison.

I can see the headlines next month- "Buy-one-get-five free iPhones"

#2 (**permalink**) 01-23-2008, 01:38 AM

In article <-tSdnXdOi74WOwvanZ2dnUVZ_jOdnZ2d@comcast.com>,
Scott <how.do@you.do> wrote:

> That makes the Sprint meltdown pale in comparison.
>
> I can see the headlines next month- "Buy-one-get-five free iPhones"

CUPERTINO, California‹January 22, 2008‹Apple today announced financial
results for its fiscal 2008 first quarter ended December 29, 2007. The
Company posted revenue of $9.6 billion and net quarterly profit of $1.58
billion, or $1.76 per diluted share.

These results compare to revenue of $7.1 billion and net quarterly
profit of $1 billion, or $1.14 per diluted share, in the year-ago
quarter. Gross margin was 34.7 percent, up from 31.2 percent in the
year-ago quarter. International sales accounted for 45 percent of the
quarter¹s revenue.

Apple shipped 2,319,000 Macintosh computers, representing 44 percent
unit growth and 47 percent revenue growth over the year-ago quarter. The
Company sold 22,121,000 iPods during the quarter, representing five
percent unit growth and 17 percent revenue growth over the year-ago
quarter. Quarterly iPhone sales were 2,315,000.

³We¹re thrilled to report our best quarter ever, with the highest
revenue and earnings in Apple¹s history,² said Steve Jobs, Apple¹s CEO.
³We have an incredibly strong new product pipeline for 2008, starting
with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two
weeks.²

#3 (**permalink**) 01-23-2008, 01:47 AM

anon <anon@anon.com> amazed us all with the following in news:anon-
BAA34F.21380522012008@news.giganews.com:

> In article <-tSdnXdOi74WOwvanZ2dnUVZ_jOdnZ2d@comcast.com>,
> Scott <how.do@you.do> wrote:
>
>> That makes the Sprint meltdown pale in comparison.
>>
>> I can see the headlines next month- "Buy-one-get-five free iPhones"
>
> CUPERTINO, California‹January 22, 2008‹Apple today announced financial
> results for its fiscal 2008 first quarter ended December 29, 2007. The
> Company posted revenue of $9.6 billion and net quarterly profit of $1.58
> billion, or $1.76 per diluted share.
>
> These results compare to revenue of $7.1 billion and net quarterly
> profit of $1 billion, or $1.14 per diluted share, in the year-ago
> quarter. Gross margin was 34.7 percent, up from 31.2 percent in the
> year-ago quarter. International sales accounted for 45 percent of the
> quarter¹s revenue.
>
> Apple shipped 2,319,000 Macintosh computers, representing 44 percent
> unit growth and 47 percent revenue growth over the year-ago quarter. The
> Company sold 22,121,000 iPods during the quarter, representing five
> percent unit growth and 17 percent revenue growth over the year-ago
> quarter. Quarterly iPhone sales were 2,315,000.
>
> ³We¹re thrilled to report our best quarter ever, with the highest
> revenue and earnings in Apple¹s history,² said Steve Jobs, Apple¹s CEO.
> ³We have an incredibly strong new product pipeline for 2008, starting
> with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two
> weeks.²
>

And the stock dropped 11% after the announcement.

#4 (**permalink**) 01-23-2008, 02:06 AM

On Tue, 22 Jan 2008 20:47:52 -0600, Bob <nospam@bob.com> wrote in
<Xns9A2DC96453E25bob@216.196.97.136>:

>And the stock dropped 11% after the announcement.

The markets are very very shaky.

--
Best regards, FAQ FOR AT&T (CINGULAR) WIRELESS:
John Navas <http://en.wikibooks.org/wiki/AT&T_Wireless_FAQ>

#5 (**permalink**) 01-23-2008, 02:13 AM

John Navas <spamfilter1@navasgroup.com> amazed us all with the following in
news:cobdp3hc5ef28bdmcac1mc83t5od42e2o5@4ax.com:

> On Tue, 22 Jan 2008 20:47:52 -0600, Bob <nospam@bob.com> wrote in
> <Xns9A2DC96453E25bob@216.196.97.136>:
>
>>And the stock dropped 11% after the announcement.
>
> The markets are very very shaky.
>

They dropped 11% after the markets closed.

Sprint- up 10 cents for the day.

AT&T- down 15 cents

Verizon- down 18 cents

Dell- down 25 cents

Dow Jones- down 1.06% for the day.

Apple- down 23.44 for the day. Almost 15% for the day

#6 (**permalink**) 01-23-2008, 02:23 AM

On Tue, 22 Jan 2008 21:13:38 -0600, Bob <nospam@bob.com> wrote in
<Xns9A2DCDC241D7Ebob@216.196.97.136>:

>John Navas <spamfilter1@navasgroup.com> amazed us all with the following in
>news:cobdp3hc5ef28bdmcac1mc83t5od42e2o5@4ax.com :
>
>> On Tue, 22 Jan 2008 20:47:52 -0600, Bob <nospam@bob.com> wrote in
>> <Xns9A2DC96453E25bob@216.196.97.136>:
>>
>>>And the stock dropped 11% after the announcement.
>>
>> The markets are very very shaky.
>
>They dropped 11% after the markets closed.
>Sprint- up 10 cents for the day.
>AT&T- down 15 cents
>Verizon- down 18 cents
>Dell- down 25 cents
>Dow Jones- down 1.06% for the day.
>Apple- down 23.44 for the day. Almost 15% for the day

You really think the markets are acting normally?

What you're missing, in addition to market instability, is that Apple
had been bid up to an unsustainable high -- "Apple shares rose from $120
in August to over $200 in December, as investors bet that the company
would be a safe haven from an expected slowdown in the tech sector."
It closed at $138, which is still well up from August level.
That's called a correction.
And some analysts (e.g., TheStreet.com) are now saying it's an
attractive buy again.

--
Best regards, FAQ FOR AT&T (CINGULAR) WIRELESS:
John Navas <http://en.wikibooks.org/wiki/AT&T_Wireless_FAQ>

#7 (**permalink**) 01-23-2008, 02:37 AM

Scott <how.do@you.do> wrote in news:-
tSdnXdOi74WOwvanZ2dnUVZ_jOdnZ2d@comcast.com:

> That makes the Sprint meltdown pale in comparison.
>
> I can see the headlines next month- "Buy-one-get-five free iPhones"
>

PPLE INC (NasdaqGS:AAPL) Edit
After Hours: 137.93 Down 17.71 (11.38%) as of 7:59PM ET on 01/22/08
Last Trade: 155.64
Trade Time: 4:00PM ET
Change: Down 5.72 (3.54%)
Prev Close: 161.36

Wow, something's up! It dropped 11% after the market closed!

#8 (**permalink**) 01-23-2008, 02:40 AM

Scott <how.do@you.do> wrote in news:-
tSdnXdOi74WOwvanZ2dnUVZ_jOdnZ2d@comcast.com:

> That makes the Sprint meltdown pale in comparison.
>
> I can see the headlines next month- "Buy-one-get-five free iPhones"
>

http://biz.yahoo.com/ap/080122/earns_apple.html?.v=20

Ah, here's news. Fell short of projected dividend...

Probably because the world wouldn't pay 'em $1200 for a WebTV appliance on
dialup speed ATT EDGE.

Remember those deep discounts? SOMEONE has to PAY!