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June 30, 2005

Apple Shares Fall

Reuters: Apple shares fell sharply yesterday after SigmaTel cut its outlook - citing lower-than-expected sales and price cuts...However, I'm still not too clear why declining flash memory chips would make Wallstreet so nervous and lead to "lower customer orders", but Apple shares were down $1.09, or 2.9 percent, to $36.22 on Nasdaq in late afternoon trade after falling as low as $36.14...The drop probably had more to do with mobile phone and cellular service providers introducing phones (i.e. Verizon's announcement and Cingular's) that also work as music players...

Posted by Todd in Apple | Permalink

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