Apple shares down
p2pnet.net News:- Is Apple in the computer business or is it an almost-paid-up member of the entertainment industry?
"Much of the spectacular rise in Apple’s stock price this year has been due to the success of the company’s iPod digital music player, which debuted in October 2001," says Reuters. "The company is now selling more iPod and iPod mini players than it is its signature Macintosh computers."
In Apple’s most recently reported quarter, iPod sales accounted for 23% of Apple’s total revenue of $2.35 billion, says Reuters, also pointing out that Apple shares fell 4% after a Needham & Co analyst Charles Wolf, "lowered his investment rating on the stock to ‘hold’."
Wolf is quoted as saying in a note to clients, "After rising over three-fold since we upgraded Apple in June 2003, we now believe that most, if not all, of the company’s future upside is captured in its current share price."
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See:-
selling more – Apple Stumbles After Analyst Cuts Rating, Reuters, Deecember 3, 2004
December 4th, 2004 at 9:25 pm
That’s your headline?!!?
HAHAHAHAHAHHAHAHAHAH
They’re approaching their 4 year high of $73..and one analyst pegged them at $100! When they’re financials come in.. it’ll zoom up to 77….
Oh yeah.. the company’s in real turmoil… tripled share price in the last year..
Man this website is a fuckin joke… lol
Off to iTMS baby… hahahahahhahahahahha
December 6th, 2004 at 1:08 am
there is a serious love/hate zealotry about the apple company.
Everyone loves to belittle and bemoan apple’s success as little more than volatility or a bubble.
However, i do understand this analyst’s logic, which is more or less a valid argument.
3 fold revenue growth is highly unusual, and invitation for a deflation of revenue streams.. specifically those centering around few products.
If the company more or less depends on sales of 1 specialized and fad-like product for its revenues, a decline in popularity or market saturation can and most likely will cause sales of the product to plummet eventually. Competition is yet another problem.. despite using one myself, battery life is a huge issue with the ipod which other devices of similar size address.