Apple shares recover following early sell-off

Wall Street Journal — Market Watch ^ | January 18, 2011 | By Dan Gallagher and Barbara Kollmeyer,

[Swordmaker]

Street stays positive despite latest medical leave by Steve Jobs

SAN FRANCISCO (MarketWatch) — Apple Inc. shares recovered much of their lost territory on Tuesday afternoon following an earlier sell-off on news that Chief Executive Steve Jobs is taking another medical leave, for an undisclosed condition.

After falling 5% at the open, Apple (AAPL 341.26, -7.23, -2.07%) was last trading down about 1.5% to $343 by early afternoon, as several Wall Street brokers reiterated positive views on the company’s and its management team. Apple is also expected to report strong earnings results after the closing bell.

Chief Operating Officer Tim Cook “is a proven executive who can handle the pressure and knows how to run the inner workings of Apple in Steve’s shadow,” Ben Reitzes of Barclays Capital wrote in a note to clients. “We believe Apple is in capable hands.”

[Swordmaker]

Apple Stock prices rebound after initial 6% sell off at opening drop due to Steve Jobs Medical leave report... now down only 1.74% (20 minute lag in reporting)—PING!

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[the invisib1e hand]

Well of course. Some imbecil beancounter or dealdoer is going to take over and ruin the company and everyone knows it.

All things must pass.

Godspeed, Mr. Jobs. You'll be an impossible act to follow.

[tubebender]

Down less then 2% on 4 times the average volume...

[Keith in Iowa]

Apple reports record-breaking revenues and profits

http://www.mercurynews.com/breaking-news/ci_17128894?nclick_check=1

Apple posted a profit of $6 billion, or $6.43 a share — a 78 percent hike from the year-ago-quarter — on revenues of $26.7 billion during the first quarter, which ended Dec. 25. A year ago, Apple reported profits of $3.38 billion, or $3.67 a share, on revenue of $15.68 billion.

Wall Street analysts had anticipated earnings of $5.40 a share on revenue of $24.4 billion for the first quarter.

The highlights of the blockbuster quarter include: 4.13 million Macintosh computers sold, a 23 percent increase over the year-ago quarter; 16.24 million iPhones sold , a 86 percent jump; and 7.33 million iPads sold.