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January 22, 2008
Apple Goes Boom: Blame Guidance and iPod Sales
Bad day for Apple today. While the company's Q1 2008 numbers are out and beat consensus, even coming close to higher targets out there for sales and earnings, iPod unit sales look light at 22.1m (I had expected somewhat over 24m), and Apple is also guiding lower than consensus on Q2.
To be fair, Apple does this all the time on guidance, so I'm reluctant to read overmuch into it, but let's just say it's indifferent guidance and weaker iPod sales on a day that indifferent guidance and a poor units on a key product are not likely to be received well. No surprise, therefore, that Apple stock is off 10% afterhours.
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