$1.58 billion. That’s the net quarterly profit that Apple posted for the 1Q 2008 (ended Dec 29). It’s actually the best quarter for Apple. Ever. Yet the stock is down by a huge amount. It went as far as $127.59 at the time of this writing. Down from slightly over $200 just a few weeks ago.
Apple shipped 2,319,000 Macs, 22,121,000 iPods and 2,315,000 iPhones for this quarter. That’s impressive growth and sales. Yet because of the threat of recession and the 2nd quarter expectations that Apple reported the stock is down tremendously. The projections of Apple fell short of what the analysts were projecting and this helped pummel the stock.
If you listened to my advice last November and actually bought Apple stocks, I hope you sold them at its high. I was thinking of selling when it breached $200 but got greedy and thought that it would still go up. Without the recession worries, I’m sure it would have.
Apple forecasted earnings of 94 cents a share on $6.8 billion in sales for the second quarter, way below what analysts want, which is earnings of $1.09 per share on revenue of $6.99 billion. Apple usually gives out conservative numbers, however the numbers posted are too conservative given the market today.
Check out the conference call notes at MacRumors.
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