We are currently experiencing server issues, please excuse any mess. More details are availble here.
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
- First look: DJI touts Mavic Pro drone's compact design, spotlights continued partnership with Apple
- DJI launches ultraportable iOS-connected Mavic Pro camera drone for $999
- Apple patents laser mapping system, hybrid mechanical-capacitive keyboard, invisible I/O connectors
- Apple, Silicon Valley raised millions to fund Hillary Clinton platform backing tech's positions on encryption, privacy, innovation, patents, education
- Disney said to be weighing Twitter purchase to bolster online video efforts