September 20th, 1999
| [3:50 PM] Apple Issues Warning That G4 Shortage Will Hurt Q4 Results by Bryan Chaffin CNBC's Marketwrap TV program is reporting that Apple has issued a report saying that G4 shortages from Motorola will have a significant impact on Apple's 4th Quarter results. Apple's 4th Quarter ends on September 30th. Apple's statement also said it had received substantial orders for the G4 but that the company would be unable to meet that demand. The overall impact will be that Apple will see lower sales for the 4th quarter of this year when compared to the 4th quarter of last year. This mars Apple's stellar financial performance since the return of Steve Jobs in 1997. It is unclear whether Apple will actually be able to post a profit despite the bad news. Apple hit a record close to day of 79 1/16 on news of the court victory over SOTEC in the battle for the eOne. Apple's trading was halted in after hours trading on the news, though trading should resume shortly. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report. The Mac Observer Spin: Hard on the heels of whispered rumors that the 4th quarter would be blow out quarter, it looks as if Apple may in fact actually see a decrease in performance for the first time in 2 years. This is devastating news for Apple's stock which has been hitting record after record in recent trading. Could this be Motorola's revenge for canceling cloning? Though undoubtedly not intended since it also hurts Motorola's financial performance, it is an ironic situation. Hopefully Motorola will be able to iron out G4 production problems soon. |