January 25, 2013
iPad Cannibals Invade the Mac Country Club
Jason Perlow, ZDNet
On Wednesday of this week, Apple posted (yet again) record sales for their first quarter of 2013--a whopping $13.1 billion in profit based on $54.5 billion in revenue, a 17 percent increase over the same quarter one year ago.
You'd think that Wall Street would be happy, given such a stellar performance, but the expectations were that the company would outperform even those impressive figures.
Between market close Wednesday and market close on Thursday, the valuation of the company's stock has plunged approximately $64 per share, shaving just under $60.1 billion dollars off of the company's market capitalization within a 24-hour period as analysts on the Street...
TAGGED: Apple, iPad