Apple’s Profit Quadruples, Yet Stock Falls
By
It appears numbers are looking both good and bad for Steve Jobs and Co. Though their net income for the fourth quarter was a reported $430 million (up from $106 million the previous year), they didn’t quite hit the mark with their iPod sales, shipping only 6.5 million units, as opposed to the 7 to 7.2 million units forcasted.
Apple Computer reported Tuesday that its earnings quadrupled in its fourth quarter on strong demand for both iPods and Macs. But overall sales of iPods fell short of analysts’ high expectations, causing Apple shares to plunge in after-hours trading.
Comments are closed.