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Apple stock sinks despite robust profits

Time: 00:55 EST/05:55 GMT | News Source: Business Week Online | Posted By: Erick Cordero

Shares of Apple Computer Inc. fell for a second day Thursday on concerns that profits in the current quarter might not match Wall Street's bullish expectations.

Apple shares fell $3.78, or 9.2 percent, to close at $37.26 in Thursday trading on the Nasdaq Stock Market. The shares slipped another 51 cents in after-hours trading. Apple shares lost $1.62 on Wednesday.

Stocks of several technology bellwethers, including Microsoft Corp., Intel Corp., Sun Microsystems Inc., Hewlett-Packard Co. and Google Inc., suffered at least slight declines Thursday amid Wall Street's concerns over steeply rising oil prices and a broader economic slowdown.

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