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Apple's shares get bruised
Shares of the iPod maker fell nearly 6% a day after a cautious revenue outlook unsettled investors.
April 14, 2005: 11:28 AM EDT

NEW YORK (CNN/Money) - Shares of Apple Computer Inc. tumbled nearly 6 percent a day after the maker of iPods and Macintosh computers reported better-than-expected quarterly earnings but a weak revenue forecast raised concerns among investors.

The Cupertino, Calif.-based company said on Wednesday that net income for its fiscal second quarter ended March 26 rose to $290 million, or 34 cents per share, from $46 million, or six cents per share, on a split-adjusted basis.

Analysts on average had expected a profit of 24 cents a share, within a range of 21 cents to 30 cents, on revenue of $3.19 billion, according to Reuters Estimates.

Revenue surged 70 percent to $3.24 billion from $1.91 billion.

But the company's revenue forecast for the current quarter was largely in line with Wall Street expectations rather than exceeding them, raising concerns about the company's outlook.

Analysts have been speculating as to whether Apple (down $2.01 to $39.03, Research) has another iPod-caliber product in the pipeline after the latest version of its Mac OS X operating system, dubbed Tiger, goes on sale April 29.  Top of page


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