Apple stock tanks over 11% in after-hours tradingShares of Apple Computer plummeted nearly $6 in after hours trading on Tuesday, losing over 11% of their value despite the company reporting the best quarterly results in its history.
For its fourth fiscal quarter of 2005, the Mac and iPod maker posted revenue of $3.68 billion and a net quarterly profit of $430 million, or $.50 per diluted share. These results compare to revenue of $2.35 billion and a net profit of $106 million, or $.13 per diluted share, in the year-ago quarter.
However, the results still fell short of the extremely high investor expectations that have been baked into the company\'s stock price, which has recently traded at all-time highs.
As of 5:00pm eastern time, Apple stock was trading at $45.85, down $5.74 or some 11.13%.
On Topic: General
- Standalone HBO Now subscriptions at 800,000, says network's CEO
- Apple's in-house CDN efforts spell trouble for Akamai as infrastructure biz warns of losses
- Apple's biggest Florida store coming to Brickell City Centre in Miami
- Belkin's ScreenCare+ Application System for iPhone launches at US Apple Stores
- Hackers trying to bribe Apple workers into handing over login information, report says