Steve Jobs’ Health a Dark Cloud Over Apple?
By Anna Johnson on July 23rd, 2008While Wall Street accepted Yahoo’s dim performance, it punished Apple. But not because of poor performance.
Apple’s PC sales rose in the third quarter to June 30, and the company continued to dominate the digital music player business. But Apple’s hints that it may lower prices, as well as concerns over CEO Steve Jobs’ health, apparently caused the share price to fall from $166.29 to $149.70 on Monday night in after-hours trading.
Apple’s revenue in the third quarter was $7.46 billion, up by 38 percent over the $5.41 billion reported at the same time last year. Its net income was up by 31 percent to $1.07 billion, or $1.19 a share, compared with $818 million, or 92 cents per share in 2007.
Gross margin was 34.8 percent, slightly lower than the 36.9 percent at the end of the second quarter in 2007. The company’s net income of $1 per share also missed analysts’ forecasts.
Source: John Markoff, “Talk of Chief’s Health Weighs on Apple’s Share Price”, July 23, 2008
