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
- Apple's Jony Ive promoted to Chief Design Officer
- Charter said to be nearing $55B deal to buy Time Warner Cable
- Rumor: Microsoft interested in acquiring BlackBerry
- National Security Agency's bulk phone metadata collection program to sunset on June 1
- This week on AppleInsider: New Macs, Apple Watch update, TV plans & more