Apple shares slammed, shed 11-percent following conservative guidance

“Stock in Apple (AAPL) dropped 11% to $148.63 following the company’s estimate for fiscal fourth-quarter earnings of $1 a share on $7.8 billion in revenue. Analysts currently expect earnings of $1.23 a share on sales of $8.33 billion, according to a survey by FactSet Research,” Carla Mozee reports for MarketWatch.

“Its fiscal third-quarter earnings came in higher than Wall Street had expected, reporting a profit of $1.07 billion, or $1.19 a share, up from $818 million, or 92 cents a share, a year ago. Revenue rose 38% to $7.46 billion from $5.41 billion,” Mozee reports. “Analysts had forecast Apple to earn $1.07 a share on sales of $7.36 billion.”

Full article here.

29 Comments

  1. The real reason the stock got hammered after hours is that during the earnings conference call, AAPL execs were asked about but declined to comment on Steve Jobs’ health, saying that was a private matter.

    The stock promptly plummeted. Bring up a chart of AAPL, and look at the price action at 17:27 ET, which is when the analyst asked the question.

    The lack of a published CEO succession plan at AAPL is clearly weighing on investors.

  2. you guys are stupid. stock prices reflect what investors believe the market will look like in 6-8 months. sure the last quarter earnings were exceptional, but we’re in a weak bear market and people all over the country are getting beaten down and down. people can barely afford to buy clothes and gas and sales are down at every single retail clothing company except walmart (which happens to be an inferior good/market for those of you who know any econ). until the market turns around, all tech stocks (intl, msft, aapl, etc) are going to take a beating.

  3. WTF? MAC is dragging MSFT down, closing at $25.64, -0.22 (-0.85%).

    Forget MAC. Microsoft has a healthy, vibrant visionary in Steve Ballmer and products in the pipeline the hippies in Cupertino would never imagine. Zune, Vista and Surface are only the beginning. Keep ’em coming, Redmond!

    I hate to break it to you fanbois, but MAC has nothing to announce. It’s called vaporware and MAC has been full of it for years. Aren’t you sheep tired of it yet?

    Your potential. Our passion.™

  4. Just wait until this “transition” takes place..

    I’m convinced it will be all iPods going touch.

    The classic will go away and just become the iPod touch.

    The nano will transition into the iPod nano touch.

    OSX and the App store will be running on ALL iPods (excluding the shuffle.)

    This would temporarily cut into margins but it will surely slam the competition, bring more developers to Apple portable devices and ultimately bring in more revenue through the app store.

  5. “The lack of a published CEO succession plan at AAPL is clearly weighing on investors.”

    Not at all. Investors have no real problem with SJ’s health being regarded as a private matter, it’s the short-term speculators who are making a fuss. As always, time will tell.

  6. Poon Tang, you’re always good for chuckles (and little else).

    MikeK, the word “transition” triggers me in three directions: 1) the one you just named with the iPods, which is something I had never considered but makes sense; 2) the Snow Leopard CPU/GPU optimization/acceleration thing (which supposedly isn’t going to be ready for a year); and 3) maybe the multitouch keyboard that Fingerworks had already developed is ready. Oppenheimer’s right, NO one would be able to copy that and only Apple would have it: the elimination of the keyboard and mouse (that they originally introduced to the masses) in favor of multitouch.

    Another possibility is some killer chip technology from PA Semi, which of course the competition wouldn’t have access to but, again, no way would it be ready as soon as this year, would it?

    Food for thought for the next few months.

    Peace.
    Olmecmystic ” width=”19″ height=”19″ alt=”cool smile” style=”border:0;” />

  7. I hope the “transition” is a chip that they attach to the brain with an option to turn off the voices in your head. I heard Apple has like 500 monkeys in their labs testing it now. It has a USB port!

  8. As an Apple investor I am very disappointed in what Apple is doing. The market is reacting rationally. In the future, Apple should focus on announcing poor results but couple that with an aggessive forecast. That would show the savvy hedge fund managers that Apple is a “player” and it would be rewarded with a major boost in stock price. So the mantra should be, “words speak louder than actions.” And you wondered why Hedge Fund gurus made so much money. Thank God for Jim Cramer and his ilk bringing street smarts to the market.

  9. Steve Jobs is…dying….no other explanation for saying that his health is a private matter…if he was alright they would have already said so…as they did last time when he came out ok from the operation.

    Well thanks for all your great, no, make that SUPERB work Steve !

  10. The big hedge funds are at it again. It is time to mess with Apple stock and shake out all the little people so the big boys can buy it up. They will push the stock down to about $110, keep it there for two months, and then run it up to over $200. They want to move it up and down to make 1000%…they are not happy with 100%/year or two. There is a major disconnect between the price of Apple stock and what the stock should really be priced. The big crooks(hedge funds/stock manipulators) buy on rumor and sell on news. They create news (Jobs is sick) to justify depressing the stock price. Figure out the game. May the force be with you.

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