Apple's stock continued to slide today, down $2.43 to end at $64.78 as investors reacted to the lack of unexpected product releases at Apple's developer's conference with disappointment. As some pundits have pointed out, WWDC is a developers-oriented conference. This should not be a surprise. Announcing the expected and high-end Mac Pro made sense (and as American Technology Analyst Shaw Wu points out the Pro will likely sell well due to pent up demand from high-end users who've been waiting for it), consumer products in the line would make more sense to be announced closer to the back-to-school season.Indications that consumer products and updates are still in the pipeline come from Robert Scoble, who apologizes for helping fuel the Apple rumor cycle, but maintains his sources say some exciting stuff is coming soon.
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Reader Comments (Page 1 of 1)
8-08-2006 @ 8:55PM
pner said...
why is no one commenting on the potentially disasterous liability for Apple as a result of the back-dating of options for Apple (and Pixar between 1997-2000) execs? i can't imagine class action shareholder plaintiff lawyers aren't salivating... maybe i'm missing something....
8-08-2006 @ 10:03PM
tobias buckell said...
Dude, we've been discussing it like almost every day! And as for 'no one' it's one of the biggest Apple stories constantly going around out there. I hardly think anyone is trying to not cover it!
8-09-2006 @ 2:50AM
an_observer said...
Something iffy about today's trading. Around 2:20, almost every component on the Nasdaq dropped off sharply in a mater of seconds. Share price could just reflect some technical reactions of that jolt. I think AAPL could bounce back to 66 support tomorrow.
I do indeed agree that momentum players traded too much expectation into WWDC, which spells "Worldwide Developers Conference." Attendees are there to code, not buy. However, I have been holding Apple since 2G iPod. Shares dropped during every major keynote (except MacWorld 06, where Jobs previewed a little bit of earnings by announcing 14 million iPods sold during Christmas).
8-09-2006 @ 4:08PM
Hank said...
I think the backdating of options is the straw that breaks this stock. Thats why I shorted at $68 last friday after Apple announced that they would be restating earnings for a couple years. Remember Jobs only takes $1/year salary so manipulating option dates is the only way he makes $$$.
I see the stock going back to $55 before it sees $66 again. The buzz was that any new product announcements would be a dud and sure nuff it was. I had been holding out on buying a Nano with the FM reciever installed, but bought a Sandisk Sansa with a 4Gig flash memory which has the built in FM and video to boot for $159. I'm stoked with it. Ipod's competitors are coming on strong and they will have to reduce their margins and will lose market share. Itunes will see further competition and Apple's dominance will erode there as well. All in APPL and Jobs have jumped the shark.
8-09-2006 @ 6:28PM
Mr. noitall said...
It seems the comments I made about Apple's backdated options "scandal" yesterday mysteriously disappeared from this site. Hmmm. could there be a conspiracy over this issue???. Well I'll repeat what I said yesterday. Apple stock is owned by alot of people, who of course don't want to see the stock tank over this issue. Therefore there seems to be an effort to keep quiet or downplay the option "problem". At this time wouldn't want to be invested in these stocks. If the market drops significantly, the media & investors will be looking for reasons for the drop, and the option scandals will be one of the reasons they name.