Thursday, January 16, 2003

Apple Posts Loss on Weaker-Than-Expected Revenue

Apple Posts Loss on Weaker-Than-Expected Revenue "Apple's financial performance did little to counter Wall Street's lingering skepticism about the company. Apple, analysts say, is a classy, niche producer of elegantly designed machines and clever marketing. But they often criticize Mr. Jobs for seeming to take a nonchalant attitude toward quarterly profits.
Apple does have a comparatively strong balance sheet. The company has more than $4.4 billion in cash. Mr. Young estimates that Apple's cash position is the equivalent of $12 a share. The company's shares closed at $14.43 yesterday, down 18 cents for the day. In after-hours trading, Apple shares fell further, to $14.10."

(Pay no attention to that man behind [or in front of] the curtain...)

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