Apple Thoughts - News & Reviews on all things Apple

"Apple shares plunged 10.8 percent a share in after-hours trading Wednesday, after the company announced CEO Steve Jobs would take a medical leave until June."

I guess this was to be expected, coming on the heels of Steve Jobs announcement, but from everything I've read regarding this, pundits and "investment experts" still believe Apple is a buy and a great investment. This type of news would be alarming if it weren't about a company like Apple, in my opinion, since they seem to have been prepping for the eventual passing of the torch for some time. Good companies prepare for all kinds of contingencies, and while I hope Steve Jobs is going to be with the company for years to come, it sounds as if Apple has set the groundwork. At least that is what the "experts" believe.

"Citi analyst Richard Gardner repeated the firm's "buy" recommendation for Apple stock, but reduced his estimate through 2011 to "reflect a more conservative view of consumer spending."

The report cites some softening of iPhone shipments in the last quarter of 2008 as one reason, and they lowered the 12-month target price to $132 USD from $153 USD. He further stated that they see opportunity in weakness so they are keeping Apple at a "buy" recommendation. AAPL closed down approximately $0.95 USD today on the news, that is if I am reading the Google finance site correctly.

"Mark your calendars: Apple plans to conduct its first-quarter conference call on Wednesday, January 21 at 5 p.m. Eastern (2 p.m. Pacific)."

Via link on the Apple website, you can listen in on the conference call with investors. During the last one, Steve Jobs actually showed up. Apparently this doesn't happen too often, so don't get your hopes up!