AAPL Trades Lower in the Wake of Earnings

Appleis stock traded lower during the Wednesday morning session in the wake of its Q4 earnings report released Tuesday. The stock opened at $48.65, down $2.94 per share (-5.98%). This was higher, however, than the 11% drop the stock saw in after hours trading after the Tuesday announcements.

Since the opening, he stock has recovered half of its loss, and is trading at 50.13, down 1.46 (-2.83%) in very heavy volume.

While Apple turned in a record quarter in terms of revenue and profits, the markets were concerned that Apple had missed analyst estimates of iPod unit sales.

A variety of analysts released research notes to their clients Wednesday morning, with most maintaining their current rating, and adjusting their price targets lower. See The Mac Observer for full coverage of these developments.

*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.  

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