Despite record profits, Apple stock slides over Jobs’ health fears
- July 22nd, 2008
- 4 Comments
Those rumors of Steve Jobs being in ill health aren’t doing the company any favors. Apple’s stock dropped some 11 percent overnight, despite the fact that the company pulled in $9 billion in profits, primarily fueled by record Mac sales. That Steve Jobs himself wasn’t present at the conference call raised investors’ suspicions.
The company’s CFO called Jobs’ health a “private matter,” which the always-jittery Wall Street didn’t take too well, Hence, the stock slide.
Apparently Wall Street is a little concerned over Apple’s perceived lack of planning for Jobs’ successor, especially since His Steveness is seen as the driving force behind Apple’s recent success.
Arthur (Who am I?)
4 months ago
Or, it could be that Apple is slashing it’s forecasted margins for Q408? Maybe that has something to do with it?
But hey, his health brings in more readers.
Carry on.
adam (Who am I?)
4 months ago
selling toys (even the best toys) ain’t easy in a global recession- especially one with rising input costs that you can’t pass along… 32x P/E ratio still seems fancy in this environment
yoshi (Who am I?)
4 months ago
I second Arthurs comment - the stock price going down has everything to do with Apple’s slashing their forcasts and nothing to do with Job’s health.
But - hey - when you don’t understand the stock market or business might as well go for idle rumors and speculation which is what you guys are good at …
Aaron (Who am I?)
4 months ago
I have to admit, I agree with Nicholas that Jobs health is absolutely an issue for the stock. Apple tends to underpromise and overperform.
http://hubpages.com/hub/Steve-jobs-health-and-Apples-outlook-cause-investors-to-think-twice