Apple after the bell 05-18-06: walloped by end-of-day selloff

Posted May 18th 2006 5:28PM by Sarah Gilbert
Filed under: After the Bell, Major Movement, Bad News, Apple Inc (AAPL)

apple at the bell 05182006 Apple was plugging along today, basking in the glow of its new (and black) MacBook, and Steve Jobs was probably patting himself on his back after yesterday's lovely write-up in the Wall Street Journal. I'm so smart, he was probably thinking, those naysayers just wish they'd invested in Apple way back when!

And then. Everybody started selling. Before MacBook could rack up its nth sale (rumored to be good even by Apple's projections), before Jobs could reach around for that acrobatic back pat, the market had hammered APPL to the tune of $2.08 -- a whopping 3.19%. The stock ended the day at $63.18.

Despite the sell-off, reviewers can't say enough good about the MacBook; MacWorld said it was faster than the fastest iBook G4 in almost all of its tests. And Forbes went raving on about the new Manhattan Apple store (in a historically dank and failure-ridden space, however). So why the big sell-off? Could it be a side-effect of bad news at rival Dell? If you sold today, what were you thinking?

Tags: appl, appl sell-off, apple, apple close, apple sell-off, apple store, apple stores, AppleClose, AppleSell-off, AppleStore, AppleStores, ApplSell-off, at the bell, AtTheBell, big apple, BigApple, closing bell, ClosingBell, macbook, macworld, sell-off

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Reader Comments (Page 1 of 1)

5-18-2006 @ 7:25PM

m. resnik said...

The news about Apple has been positive last 6 months. Yet, since the beginning of the year Apple has been in a downtrend. Earnings outlook, management, transperancy, strong financials, are to say the least impressive. My personal belief is hedge funds manipulate this issue.