Apple Tumbles During 'Disappointing' Stevenote

Steve Jobs is giving Wall Street a big yawn. The Stevenote isn’t even over yet, and Apple’s (AAPL) stock is already down $7. The MacBook Air and iTunes Movie Rentals just doesn’t do it for them.

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Can Steve-O bring the stock back with 'One More Thing' at the end?

[Editor's note: As of 1:48 p.m. ET, Apple shares were down $12.61, or 7.05%.]

Comments

[Governor:]

Erick,

...the stock always goes down during his keynotes....who cares? Apple stock goes up on earnings, the only thing investors (at least the smart ones) care about!

[Comment edited for abusive language. Commenter put on notice]

2008 Jan 15 02:24 PM

[Brandon:]

I'm getting clobbered today, but I can't help but laugh at how the Iphone sales number got completely ignored. Makes me wonder how the market will react when Apple totally and utterly shatters 1st quarter estimates when they announce. And with the Iphone numbers, this seems like a foregone conclusion.

Only time will tell.

2008 Jan 15 02:27 PM

[Tom B:]

4 M iPhones in 6 mos. might imply 12 M by the end of 2008. I THINK Steve predicted 10 M total sold by the end of '08. I am quite pleased by the numbers, though (Duh!) the 5 M "whisper number" would have been better.

The most important numbers show continued expansion of the Mac market. AAPL beat Dell's market cap last year; IBM THIS year. MSFT, next year? Granted, MSFT still is the 800 pound gorilla in unit sales.

AppleTV was already the leader in downloadable video; now, it may give Netflix a headache.

2008 Jan 15 02:45 PM

[Wake Up!:]

'Disappointing'?! Did you completely miss the amazing 4M IPhones sold to date announcement, or the fact that Apple has signed movie distribution deals with EVERY major studio?! Wake up and smell the $$$!

2008 Jan 15 04:55 PM

[Long-Short Guy:]

What we're seeing in these comments is the difference between fans of Apple and people who understand the way stocks work in the short term. The Apple fans say: everything was great! The traders say: Everything was priced-in, and more. That's why the stock fell.

2008 Jan 15 05:00 PM

[eponymousLTC:]

In a bear market, don't most institutions sell into strong companies with strong earnings in order to capitalize on the momentum and take profits? That would be one of the things I'd hedge against come earnings season, strong or not...

2008 Jan 15 06:33 PM

[Brandon:]

My plan was to sell Apple at the end of 2007...OOPS

2008 Jan 15 06:59 PM

[vodka_tonic:]

i think aapl has a lot of upside still, in term of sales of iphone and ipod. i don't care for the mac so much and the video thingy is fairly useless in my opinion (netflix is much better), but the iphone is by far the best phone in the market right now and the same goes for the ipod.
i like this stock at 160 and will love it (should it fall doubtfully) to 140.

2008 Jan 17 12:14 AM

[techzone12:]

Apple still got the momentum. The market is dragging the stock price down for now (great buying opportunity!). But on the long run, Apple is in a very good position. Every one who used Vista (and maybe downgraded to XP), no that Apple will take a big chunk of the PC market. I can see Apple computers completely taking over, and becoming main stream.

2008 Jan 17 09:28 PM