Apple Stock Plunges 10% After Earnings Released
Monday July 21, 2008 09:11 PM EST
Written by Jeff Longo
Note: This is a Page 2 News Item
Apple's stock has plunged over 10% in after hours trading since Apple announced record and expectation beating 3rd Quarter results, currently sitting at just under $150 after closing at $166.49.Apple's stock price is notoriously volatile after quarterly conference calls due in part to Apple's habit of understating estimates for future quarters which they routinely beat. In addition to a low forecast, Apple's gross margin was lower than the year ago's quarter.
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