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Apple Stock Plunges 10% After Earnings Released

Monday July 21, 2008 6:38 pm PDT by longofest
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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ubercool
47 months ago
Can you believe it? Apple is on a $28 billion run rate and Macintosh sales were up 41%, but like with Mom and Dad, it's never good enough. :D
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TEG
47 months ago
It is just down in after hours trading, it will shoot up tomorrow when the market opens.

TEG
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Chundles
47 months ago
Happens all the time.

Buy on the rumours, sell on the news.
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longofest
47 months ago
HUGE buying opportunity, IMO.
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zombitronic
47 months ago
They gave low guidance, as usual. And they'll beat it again, as usual. You'd think WS would be used to this by now.

But as it goes with Apple, sell on the news, buy on the rumors. Luckily, they gave us some new product rumor fodder.
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dvdiva
47 months ago
The fall has been triggered by Steve's health more than Apple's financial health.
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winterspan
47 months ago

Can you believe it? Apple is on a $28 billion run rate and Macintosh sales were up 41%, but like with Mom and Dad, it's never good enough. :D


Yeah, it's weird, but that's how its worked as long as I've followed Apple (approx 3.5 years). They always underestimate their next quarter, and the market freaks out, then they end up blowing away their projections. *repeat* lol
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Zadillo
47 months ago

Yeah, it's weird, but that's how its worked as long as I've followed Apple (approx 3.5 years). They always underestimate their next quarter, and the market freaks out, then they end up blowing away their projections. *repeat* lol


Yeah, I've always wondered about that. Do investors just have really short memories or something? Cause you're exactly right; the articles even remind people that Apple has a history of conservative estimates.

Although I guess the smart investors are the ones who know this happens after every earnings call and snap up deflated shares (AAPL at $149 ain't bad at all).
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dllavaneras
47 months ago

Can you believe it? Apple is on a $28 billion run rate and Macintosh sales were up 41%, but like with Mom and Dad, it's never good enough. :D


Hehe, it's stuff like this that has kept me from trying to understand the stock market. :p
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Sun Baked
47 months ago
Maybe they we sending the buy orders to their brokers for AAPL using Me.com :p
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