This Story Posted:
July 16th, 1999

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[3:39 PM]
Apple Stock Watch: Apple Falls Again, May Be Stabilizing
Apple's stock again fell today, but the loss was minimal, a mere 3/16. Apple closed at 53 1/16, down 3/16 or 0.35%. Volume was fairly light with 3,673,100 shares trading hands. According to a News.com report, Apple's fall after posting an excellent 3rd Quarter should not be a permanent thing. From that report:

Apple Computer lost 3 percent this week even though it posted fiscal third-quarter profit of 69 cents a share, beating both the average analyst forecast from First Call and the unofficial estimate available from The Whisper Numbers. It last traded at 53.75.

Still, investors expect any declines by companies that beat estimates to be short-lived. "It's short term," said Michael D. Jamison, a managing director at Brandywine Asset Management. "As people look back at earnings and raise estimates, they will forget a 2-point drop."

Apple's PC competitors showed mixed results with IBM and Hewlett-Packard closing up, and Gateway 2000, Compaq, and Dell all closing down.

The Dow and the Nasdaq both closed in positive territory with the Dow closing at 11209.84, up 23.43 and the Nasdaq closed at 2864.48, a gain of 25.11.

The Mac Observer Spin: If recent history is to be followed with this MacWorld, Apple should see a rise on Monday and Tuesday of next week with a peaking on Wednesday and profit taking claiming its toll on Thursday and Friday. It should be an exciting week! :-)

Apple



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