http://www.macnn.com/articles/12/07/24/share.price.drops.30.on.news.of.apple.missing.estimates/
Wall Street hammers Apple stock in afterhours trading
updated 06:22 pm EDT, Tue July 24, 2012
Share price drops $30 on news of Apple missing estimates
Apple stock has already fallen roughly $30 in afterhours trading, following the announcement of the company's third-quarter results. Although it was hovering around the $600 mark at 5PM Eastern time, at 5:30 that figure plummeted to roughly $570. It continues to sit at that level as of this writing.
The tumble is likely connected to the company's revenue and EPS numbers. While Apple grew revenue 23 percent year-over-year to $35 billion, generating $9.32 in EPS, the Wall Street consensus prediction was $37.2 billion in revenue with $10.35 in EPS. Apple rarely disappoints analysts, which may have been an excuse for a number of investors to sell off their shares.
Fresh-Faced Recruit
Joined: 03-24-09
You can never please analysts. Microsoft lost money and their stock went up. Apple made a lot of money and their stock crashed. It's a stupid game these people play and I wish they were only playing with their money instead of everyone else's. Apple is sitting just fine and a whole lot better than any other tech company. Maybe Wall Street needs to get out of their ivory towers and see what's actually happening in the world instead of downing energy drinks and messing up the world.