The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Shares Drop Almost 11% in After-Hours Trading, Recover Some Loss

Apple Shares Drop Almost 11% in After-Hours Trading, Recover Some Loss

by , 7:30 PM EDT, October 11th, 2005

Despite reporting its best financial quarter ever, and despite posting a 2.42% gain to US$51.59 during the day, Apple saw its shares drop almost 11% during after-hours trading. The company sold 6.451 million iPods, short of many analysts' estimates of seven to eight million units, and its $3.68 billion in revenue was just below expectations.

Jim Fisher, a fund manager at Univest Wealth Management and an Apple shareholder, told Reuters: "Expectations for Apple's results were pretty high, and they needed to beat estimates for us to see a boost in the stock this afternoon. Revenue came a bit lower than expected and that's why we are seeing Apple dip a bit."

At 7:24 PM EST, however, Apple stock had recovered some of its losses, standing at $46.70 per share. That was down $4.89, or 9.48%, from its price at the end of normal trading.

Recent Headlines - Updated October 31st

Thu,7:17 PM
Meijer, the CurrenctC/MCX Member Who Refuses to Block Apple Pay
6:36 PM
Get Free Bitcoins with 52 Website Faucets that Really Pay [Update]
5:17 PM
Last Chance for The Bluetooth Shower Speaker: $39
5:09 PM
CES Rebrands iLounge Pavilion as iProducts, Hopes to Attract Macworld Expo Exhibitors
2:13 PM
Apple Reverses PCalc Decision; App and Widget Can Stay
1:29 PM
TMO Daily Observations: 2014-10-30
11:36 AM
Microsoft Joins the Fitness Tracking Game with Fitness Band
9:52 AM
Tim Cook’s Gay Coming Out is a Big Deal for Equal Rights
Wed,9:37 PM
MCX Holds Press Conference, Does Itself No Favors
7:30 PM
ACM 278: Apple is the New Microsoft and Thinking Differently about iPhone
6:43 PM
Apple: Widgets Can’t Calculate, Orders Featured Calculator Widget Removed
4:00 PM
The 3 Unexpected Consequences of Apple Pay Will be Huge
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!