Apple Shares Tumble After-Hours on Disappointing Q2 Forecast [Update]
TMO Reports - Apple Shares Tumble After-Hours on Disappointing Q2 Forecast [Update]
by , 4:40 PM EST, January 18th, 2006
In after-hours trading on Wednesday, Apple shares had dropped to US$78.29, down 5.09% or $4.20, as of 4:40 PM EST, despite reporting record financial numbers for the previous quarter. Apple's stock historically drops after earnings announcements, whether they're good or bad. In this case, however, the markets reacted negatively to Apple's Q2 guidance, which was lower than consensus estimates.
The Wall Street Journal reported that Thomson Financial's estimate going into today's earnings announcement from Apple was for Q2 revenue of $4.63 billion and 48 cents per share in earnings. Apple offered guidance Wednesday of $4.3 billion in revenue and 38 cents per share in earnings.
Amid broader NASDAQ weakness, the company's stock closed Wednesday at $82.49, down $2.22 (-2.62%). After hours trading did see a slight recovery up to the $80 per share range after the initial downturn.
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
- Mon,12:40 PM
- Three Ways to Protect your Apple Watch (and One Way Not To)
- Tue,7:41 PM
- Bad News, FBI: Apple Hires Security Pro Jon Callas
- 5:30 PM
- How Apple Got Ready For an iPhone With an OLED Display
- 5:09 PM
- Writing the ‘Apple Music Letter’ Was Taylor Swift’s Bravest Thing She’s Done
- 4:46 PM
- ZeroLemon 64GB iMemStick: $79.99
- 1:31 PM
- TMO Daily Observations 2016-05-24: New MacBook Pros this Fall, Spotify’s New Pricing
- 11:41 AM
- No New MacBook Pro Until Fall, but it’ll be Really Cool
- 10:25 AM
- Star Wars as an Infographic is Fantastically Awesome
- 9:15 AM
- El Capitan: Adjust Safari’s Reader Settings
- 8:00 AM
- Rob Enderle Calls Apple ‘Desperate’
- Mon,8:40 PM
- Dubious Study Says Fitbit Sucks at Heart Rate Tracking
- 6:16 PM
- Chance the Rapper Sounds the Changing of the Guard on Apple Music and Streaming