Apple (AAPL) Sinks 4% Following Earnings, Weaker Guidance

July 21, 2008 4:57 PM EDT

Apple (Nasdaq: AAPL) is trading 4% lower after-hours after reporting slightly better-than-expected Q3 results and providing guidance well below Wall Street views.

Apple reported Q3 EPS of $1.19, 11 cents better than the analyst estimate of $1.08. Revenues for the quarter were $7.46 billion, versus the consensus of $7.37 billion.

Looking into Q4, Apple sees Q4 EPS of $1.00, versus the consensus of $1.24. Sees Q4 revenues of $7.8 billion, versus the consensus of $8.3 billion (NOTE: Apple is usually very conservative on guidance, but maybe this is too conservative).

Apple shipped 2,496,000 Macintosh computers during the third quarter, up 41% from the year-ago quarter. Wall Street was looking for Mac units of about 2.2 million for the quarter.

Apple sold 11,011,000 iPods during the third quarter, up 12% from the year-ago quarter. Wall Street was looking for iPod units of about 10.3 million for the quarter.

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