Apple shares plummet in after-hours trading

“Apple Computer Inc. said fourth- quarter profit surged as sales of iPod music players rose to a record and back-to-school demand drove Macintosh computer shipments. The shares fell after iPod shipments disappointed,” Bloomberg reports. “Net income rose to $430 million, or 50 cents a share, from $106 million, or 13 cents, a year earlier, Cupertino, California-based Apple said today in a statement distributed by PR Newswire. Sales increased 57 percent to $3.68 billion. iPod shipments climbed to 6.45 million, missing analysts’ estimates of 6.75 million to 8.5 million, based on a survey by Bloomberg News.”

“Apple sold 1.24 million Macs, the fourth straight quarter shipments topped 1 million,” Bloomberg reports. “Shares of Apple fell to $46.47 [in after-hours trading]. They earlier rose $1.22 to $51.59 at 4 p.m. in Nasdaq Stock Market composite trading… Including today’s results, Apple has shipped more than 28.2 million iPods since Jobs propelled Apple into the digital music market in October 2001. The company has sold more than 500 million songs through its iTunes online music store.”

Full article here.

After-hours AAPL quote here.

Related articles:
Apple Q4 05 earnings report: best quarter & best year in company history – October 11, 2005

16 Comments

  1. This is a total buying opportunity! I was hesitant to pick up more shares above $50, but AAPL is a total value at $45-46. The sell-off is uninformed nonsense – once the rest of the market digests the actual RESULTS and not just look at iPod unit numbers as if it was the only metric that determines the health of the company, the stock will shoot back up to $50 again.

    I just picked up 110 more shares at $45.77 in after hours. it’s 5 minutes later and the stock is already up to $46.19.

  2. These morons discount the Mac because they are sheep. Personally I am happier to see higher than expected Mac shipments and SLIGHTLY lower than expected iPods. It’s the Mac that is Apple’s next hit, not the iPod…

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