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Apple Grows Like Crazy, Stock Plummets
What the hell? Apple announced its quarterly earnings yesterday and it was basically all great news—huge numbers of iPod sales, something like growth of 125% over last year, and finally Apple has more than 5% market share for computer sales! So what happens? Apple Stock Plunges 10 Percent:
SAN JOSE, Calif. Oct 12, 2005 — Shares of Apple Computer Inc. continued to tumble Wednesday, after the company reported robust sales of its personal computers and still-sizzling iPods, but overall shipments of the digital music player falling shy of Wall Street's high hopes.
Oh, and today Apple announced a video iPod, a new iMac w/built-in iSight video camera and remote control, but that cool stuff will probably sell like crazy and make the stock price fall even more.
Apple, the company that can never win.
Oh, and you know, I understand the many ways that Apple totally blows as a corporate behemoth that controls all its proprietary goodies to the detriment of the public good, but I'm thinking that's really got nothing to do w/why Wall Street constantly beats up on the company.
Posted October 12, 2005 10:28 PM | mac geek
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"but overall shipments of the digital music player falling shy of Wall Street's high hopes."
That's why share price fell-the price was already marked up in expectation of those higher sales.
Posted by: Chris B at October 15, 2005 03:20 PM
Which makes it a good time to buy Apple if you think it is a good investment. I do.
Posted by: Jonathan Link at October 17, 2005 07:55 AM
