Friday, January 23, 2009
Apple Stock Jumps After Earnings Report
Posted by Jeff Campbell in "Apple News" @ 10:00 AM
"While Apple stock is up over seven percent since its positive earnings report and conference call yesterday afternoon, both Nokia and Microsoft have released dourer reports about their financial outlook."
Not a lot of good news yesterday with Nokia reporting a 69% (yes 69%) drop in profits, Microsoft laying off 5,000 employees and Sony posting record losses of $3 Billion USD with plans to close factories and lay off workers. Investors seemed happy with the news from Apple though, as you can see from the jump in stock price. Strategic planning at Apple remains cautious, as a story later today points out regarding the scaling back on the retail side of things.
