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:
AAPL Down 11% in After Hours Trading

AAPL Down 11% in After Hours Trading

by , 6:25 PM EDT, July 21st, 2008

Shares in AAPL plummeted more than 10% in after hours trading, following the release of Apple's third quarter financial results. As of this writing, shares traded at US$147.56 per share, down $18.73 (-11.26%), with investors seemingly worried about Apple's September quarter guidance. The stock had posted a small gain in the last hour of the regular trading session.

Apple announced a record June quarter, with revenue of $7.45 billion and profits on $1.07 billion. The company grew iPod sales, and saw a record quarter for Macintosh unit sales. While those results beat analyst consensus of $1.07 per share in earnings, with revenue of $7.36 billion, Apple disappointed with its 4th quarter guidance.

Apple CFO Peter Oppenheimer announced guidance of $7.8 billion in revenue, with earnings of $1 per share. Wall Street had been looking for $8.3 billion in revenue with earnings of $1.23 per share. The after hours market took that guidance as a disappointment, sending the shares lower.

The after hours market only affects those shares actually traded during the after hours session, but it can be an indication of which direction the market will head once the next regular trading session opens. News from events that take place after the markets close are what tend to have the biggest effect on any stock's after hours activity.

Historically both after hours gains and losses have tended to be more extreme than regular trading activity during that next session. The Mac Observer will be watching the markets Tuesday morning to report on Apple's activity.

*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.  


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.

Recent TMO Headlines - Updated May 28th

Sun, 5:30 AM
Get Free Bitcoins from 23 Faucets That Pay
Fri, 6:39 PM
Apple Could Own Device-Centric AI with Custom Chip
Fri, 5:03 PM
Here’s What Kik Users Need to Know About Kin Cryptocurrency
Fri, 4:48 PM
Sid Meier's Railroads for Mac Hits Steam Platform
Fri, 4:19 PM
The Touchbar MacBook Pro is a Disposable Embarrassment
Fri, 3:50 PM
The 5 Best PC Motherboards for Creating a Hackintosh
Fri, 3:42 PM
Leaked Memo Pegs iPhone 8 Launch After September 17
Fri, 2:15 PM
Apple Music Is Turning Apple into a Media Giant
Fri, 1:37 PM
Apple Watch Tops Heart Rate Monitor Study, Adam Curry's Podcaster Pro - TMO Daily Observations 2017-05-26
Fri, 11:21 AM
Adam Curry's Podcaster Pro Aims to be All-in-One Podcasting Solution
Fri, 11:17 AM
iPhone 8 Cases Already for Sale on Alibaba
Fri, 10:09 AM
New Report Backs Up Touch ID Embedded in iPhone 8 Display
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!