[opendtv] Re: Apple Stock Plunges 10 Percent
- From: Craig Birkmaier <craig@xxxxxxxxx>
- To: opendtv@xxxxxxxxxxxxx
- Date: Wed, 12 Oct 2005 15:57:33 -0400
At 3:05 PM -0400 10/12/05, John Shutt wrote:
>Apple Stock Plunges 10 Percent
>Apple Stock Plunges After Company Reports Good Sales of PCs and iPods but
>Has Shipments Lower Than Expected
>By MAY WONG
>The Associated Press
>SAN JOSE, Calif. - Shares of Apple Computer Inc. continued to tumble
>Wednesday, after the company reported robust sales of its personal computers
>and still-sizzling iPods, but overall shipments of the digital music player
>falling shy of Wall Street's high hopes.
>
>The reaction was immediate Apple shares plunged more than 10 percent late
>Tuesday after the company reported its fourth quarter results. Shares fell
>$3.26, or 6.3 percent, to $48.33 in Wednesday morning trading on the Nasdaq
>Stock Market.
>
>Analysts were expecting anywhere from 7.5 million to 8.5 million units sold,
>said Shaw Wu, analyst with American Technology Research. Instead, Apple sold
>nearly 6.5 million iPods in the quarter, bringing cumulative sales of the
>portable player to about 28 million units, said Peter Oppenheimer, Apple's
>chief financial officer.
>
>Still, Apple's results were far from glum.
Is Steve Jobs the Rodney Dangerfield of the Computer Kingdom?
The company is doing everything right - it took Steve more than five
years to pump the flood waters out of the Infinite Circle compound,
but Apple now has higher revenues than at any point in the companies
history, a growing share of the PC market, and an IP portfolio filled
with the stuff needed to build the media centers that may soon hook
up to those big screens with DVI and HDMI ports.
The new iMacs - announced today - come with a remote control. This is
certainly not an innovation, but rather, an acknowledgement that in
addition to being an up close and personal computer, its flat screen
display and stereo speakers can also double as TV and stereo in a
bedroom or dorm room. Now Apple is in the business of selling video
content for download via the Internet.
No doubt Bert will have something to say about this. Clearly this is
an unworkable business model, as only the walled gardens have the
infrastructure needed to be in the IP
TV business...
Regards
Craig
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