September 20th, 1999
|[4:40 PM] Apple's Stock Down 10+ Points In After Hours Trading
by Bryan Chaffin
Apple's stock has fallen 10 9/16 points in after hours trading according to CNBC's Market Wrap as of 4:40 PM. Trading was halted earlier on news that Apple would miss earnings estimates in the 4th quarter due to G4 shortages from Motorola. After trading was resumed, Apple immediately tanked by more than 10 points or some 13%, a whopping decline.
For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.
The Mac Observer Spin: Our take is that Apple just became a great bargain again. Apple may continue to fall again tomorrow, but the fundamentals behind the company are still very strong. Failure to deliver back ordered G4s is not a good thing by any stretch of the imagination, but with 150,000 back ordered, this means that Apple's 1st fiscal quarter will be remarkably good. Within a few of days Wall Street is likely to have forgotten this unpleasantness and Apple will no doubt begin to head back up.