Great News! Stock Tanks!
Posted by Nathaniel.
Here’s the funny thing about the stock market: it makes no sense. Apple just released their earnings report after the market closed today and it’s huge. Earnings are up 58% and it was a record profit.
So what is the stock doing? Well, it’s already down $18 a share in after hours trading. Add in the almost $6 that it lost in trading today. All in all, it’s down over $50 a share from the peak just a few weeks ago.
January 24th, 2008 at 12:01 pm Using
Well, Apple stock is down to around $135 now. That’s definitely lower than the record high of $208 at the end of last year.
Of course, it’s a lot better than the $5 it was at about 6 years ago.
February 1st, 2008 at 7:15 pm Using
GOOG today is another example; shares dropping over $50 even after a good quarter. (Although I wonder if the bounce was dampened by worries about the new Yahoo/MSFT merger?)
But yeah, Apple beat by a lot, sales were up 57%, etc, but it wasn’t enough. I guess that what you get when you have shareholders and cult of personality members overlap in the great Venn diagram of life.