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Apple stock gets bruised
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September 21, 1999: 11:50 a.m. ET
Tremors from earnings warning felt as company's shares slide nearly 10%
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NEW YORK (CNNfn) - The after-shocks from Apple Computer's surprise earnings warning Monday were felt on Wall Street Tuesday as investors watched the price of the company's stock slide in early trade.
By late morning, shares in Apple (AAPL) had fallen 7-5/8, or 9.7 percent, to 71-7/16. In after-hours trade Monday, the stock tumbled 14 percent in the immediate wake of the news.
The computer maker shocked the investment community Monday with word that its fourth-quarter earnings will come in well below analysts' expectations due to production problems at Motorola (MOT), which makes the G4 processor, the core of Apple's newest line of Power Mac computers.
Apple's interim CEO Steve Jobs told CNNfn.com Monday that the company had expected to ship 150,000 Power Mac computers in the fiscal fourth quarter, but that a chip shortage likely will reduce that number by as much as 60 percent.
Some analysts said, however, that Apple may have underestimated the G4 Power Mac's sales potential, introducing the machine before Motorola had made enough chips to meet what has turned out to be very strong demand. 
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Apple
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