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Investors unimpressed by Apple news | |
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| Time: 19:40 EST/00:40 GMT | News Source: Macworld UK | Posted By: Erick Cordero | ||
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Apple beat its own profit forecast by a massive 70 per cent on Wednesday, but it would seem that investors were not impressed with the news, nor were they excited by Apple's conservative guidance for the third quarter - the stock sank 10 per cent on the following day. Analysts suggest that the reason for the decline is that Apple has been priced for perfection - expectations are too high. Immediately following the results announcement, Piper Jaffray analyst Eugene Munster told CNBC that despite the relatively good fiscal second quarter figures "with Apple expectations always so high, nothing is going to make the Street happy today." | ||
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