Apple stock slumps on results scare

Posted on 13 Jul 2006 at 10:45

Apple's stock slumped to a nine-month low yesterday after an analyst predicted that the company would issue a fourth-quarter results warning.

Credit Suisse First Boston analyst Robert Semple ventured that iPod shipments have been cut while Apple readies new versions, recently rumoured to have been delayed by a change in system-on-chip provider.

In contrast, Semple expects MacBook sales close to 450,000, a significant increase on his original forecast of 310,000.

'We expect Apple to guide revenue below consensus of $5bn, likely in the $4.6 - $4.8bn range,' Semple told investors.

Apple's share price closed at $52.94, 4.85 per cent down on the day.

Author: Simon Aughton

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