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Apple Shares Fall As Competition Increases

Staff Writer
Published: 2005-03-09

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Sony has launched nine new music players causing Apple's share price to go down 5%.

The company's shares have fallen 8.5% since the stock split announcement on Feb. 11. In the past year, shares reached their highest ever.

"Competition concerns are certainly going to influence how this stock trades," said Warren West of GreenTree Brokerage Services. "Investors in general have enjoyed the stock moves, there's a lot of money that has been made, and people are going to start taking profits especially after the split."

A PC Pro article says:

"Wall Street analyst, Piper Jaffray's Gene Munster, has told clients that he expects Apple to outperform expectations in this financial quarter.

Having surveyed 50 retail stores across the US, Munster said that iMac, PowerBook and Mac mini sales are higher than anticipated while iPod demand remains strong. The only concern for Apple is meeting demand for iPod shuffles. However there are signs that the two-to-three week long waiting list for the 1GB model is being cut. Apple is now quoting five to seven days on its US online store, though European customers still have the longer wait."

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