Shares of Apple plunge more than 11% in after-hours trading

“Apple (AAPL) blew past expectations for the first quarter but guided Wall Street lower with a weak second-quarter forecast,” Priya Ganapati reports for TheStreet.com.

“Shares of Apple plunged more than 11% in after-hours trading to $137.65 – a four-month low,” Ganapati reports.

“For the second quarter of fiscal 2008, Apple guided revenue of $6.8 billion and earnings of 94 cents a share. Analysts were expecting revenue of $6.98 billion and EPS of $1.09” Ganapati reports.

Full article here.

MacDailyNews Take: As we wrote at 9:42am EST this morning, “Apple’s results will likely be very nice indeed, but it’ll be Apple’s guidance upon which many on Wall Street will focus.”

52 Comments

  1. Time to buy up as much as I can of AAPL. Even with the US going into recession, it’d be a good time to buy shares. Great quarter, they just didn’t like Apple’s guidence. It will be alright.

    When others are scared, see the opprotunity. When everyone thinks all is fine, be scared.

  2. Any idiot selling the stock due to a weaker than expected 2nd quarter forecast is just burning money. Apple is notorious for low-balling their forecasts and any analyst that’s worth a shit knows that. You should buy up all the stock you can right now, because it’s going to bounce big time in the coming days.

  3. Cheap crapy PCs are overpriced… for sure! Uh Oh! Even dummy enough to buy that PC garbage! Wouarf!

    PS Oh beg your pardon 7000$ AlienWare is maybe not too much of a peace of dirt… but you’ll pay for it…

  4. There was no recession in 2001. That was called 9/11. The markets rebounded a few weeks later once the shock wore off. And if you’re referring to the “dot bomb” crash, that happened in 2000, not 2001.

  5. Everyone needs to step away from the computer. Throw the newspaper out. Turn off the radio.

    They LOVE bad news. Especially right now. The media in general, at larger would prefer you believe that the the sky is falling and that Perdition’s flames are on the other side.

    There is no more self fulfilling prophecy than a recession. We’re told things are bad, we believe it, we stop spending money, get really conservative with our investments, sell our stocks. We create the recession we’re afraid of.

    This is a presidential election year. There are those who will benefit greatly from your fears.

    This is all fear based.

    Just chill.

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