AAPL Falls On Reports of Slowed Consumer Spending

September 29 2008, 5:55pm

If only I had bought Apple stock back in 1985… AlleyInsider is reporting that AAPL is down to $110 - 14% - due to stock downgrades by Morgan Stanely and RBC. Why? Because folks aren’t buying stuff - it’s “the weakest [90-day electronics spending] ever seen” - and Kathryn Huberty points out that Apple isn’t in the sub-$1,000 laptop market where all the money is. Fair enough: people are scared, they don’t buy iPods. But the sub-$1,000 laptop market is not a place for Apple to play - the profit comes from shipping huge numbers, not from all the cost savings to be had by pricing your laptops at lower than low. Read more… Crunch Network: CrunchBoard because it’s time for you to find a new Job2.0

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