Even with Record Earnings Apple hit with big sell off
Not even record earnings could stop investors from taking profits today for Apple stock. The stock was down 4.34% trading at 90.85. The low for the day had been 89.37. The sell off was based on Apples conservative outlook for the next quarter and perhaps the fact that the conference call with Apple's Peter Openheimer didn't include any info on the new products like AppleTV and the iPhone.
TheStreet.com had this from analysts this morning:
"UBS analyst Benjamin Reitzes added a penny to his EPS estimate, to 61 cents for the second quarter. For fiscal year 2007, he raised his EPS forecast to $3.20 from $2.87 and moved his target price to $124 from $118. Reitzes has a long common stock position in Apple, and his firm has provided nonsecurities services to Apple."
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