Today is one of those days when the "after the bell" news would have been far different at 4:01 than (now) at around 6:30. I was watching Apple Computer charge up the mountain of a chart from yesterday's eight-month low, thinking how wonderful investors must feel. And then, bang right at the closing bell: bad news.
Immediately, AAPL began slipping, correcting almost three percentage points from its 5.27% gain. Although the stock ended the day at $58.97, a gain of $2.95, it's now down to $57.30 in after-hours trading.
Not only did Apple announce the discovery of old stock option grant irregularities, but also was still recovering from yesterday's announcement that the next iteration of the iPod might be delayed. The market's giddy reaction to the quarter-percentage-point interest rate increase wasn't enough to save AAPL from two negative stories in two days.
Top growth fund manager sours on Apple, U.S. tech
New Facebook share structure hints at IPO
Before the bell: Futures higher ahead of housing, jobless data
Reader Comments (Page 1 of 1)
6-29-2006 @ 7:04PM
Baz said...
Slam Apple if you want -- good luck stopping a freight train. Bluetooth Ipod, larger screen Ipod... it's all here by X-Mas. Buy now while the stock is still affordable. "IPod Nation" is no exaggeration.
6-30-2006 @ 1:15AM
Ein said...
Let's hope the freight train is not going down hill without brakes.
6-30-2006 @ 1:48AM
tru said...
AAPL is the 747 waiting on the runway ready to take off in the second half !!!
its just loading up on fuel...
6-30-2006 @ 2:11AM
eric said...
I like to see ipods have a sleep feature turns itself off.I would also request taking advantage of idea ipod download music into your computer