AAPL down big in after hours

m.o.s.tm.o.s.t
Posted:
in General Discussion edited January 2014
I used google Finance >> AAPL. Shows it was up 1.43$ or 2.10% today.....But... in In after hours the stock went down 6.60% Any idea why? Is it a case of 'buy on the rumor sell on the news aka WWDC (sine Today and Friday will be the lastfull trading days before WWDC? or is there other news..bad bad news?

Comments

  • Reply 1 of 4
    kickahakickaha Posts: 8,760member
    Restatement of last qtr earnings due to stock options reporting issues.
  • Reply 2 of 4
    m.o.s.tm.o.s.t Posts: 255member
    Quote:
    Originally Posted by Kickaha


    Restatement of last qtr earnings due to stock options reporting issues.



    yes. thank you found the story on yahoo



    AP

    Apple Warns Some Profits May Be Erased

    Thursday August 3, 7:55 pm ET

    By Michael Liedtke, AP Business Writer

    Apple Warns Some Profits May Be Erased Because of Stock Option Trouble



    SAN FRANCISCO (AP) -- Apple Computer Inc. warned Thursday that it probably will wipe out some of its profits recorded since 2002 after uncovering more evidence that it improperly accounted for employee stock options.
  • Reply 3 of 4
    tednditedndi Posts: 1,921member
    Whoops. I would still be in the market to buy. As most of the filings look backward and I am reasonably sure that Apple will continue its upward march. Yes I do own AAPL.





    Apple says likely to restate results, delay filing





    Thursday August 3, 7:54 PM EDT



    LOS ANGELES (Reuters) - Apple Computer Inc. (AAPL) said on Thursday it would likely need to restate earnings and will delay filing its quarterly report because of additional irregularities it found in its accounting of stock options, sending shares down 3.8 percent.



    Apple is now among the most high-profile companies caught up in a stock options scandal that has swept through the technology industry. The SEC has more than 80 investigations underway to determine if companies manipulated the prices of stock options given to executives.



    Apple said in a regulatory filing that all financial communications issued since September 29, 2002, should not be relied upon.



    Apple announced on June 29 an internal probe into irregularities related to the issuance of the stock option grants, the hiring of an independent counsel to perform an investigation, and said it had informed the U.S. Securities and Exchange Commission of the probe.





    Apple said on Thursday it will likely need to restate its historical financial statements to record noncash charges for compensation expense relating to past stock option grants.



    Apple said in a statement it had not determined the amount of the charges, resulting tax and accounting impacts, or which periods may require restating.



    Apple has said one of the stock option grants was to Chief Executive Steve Jobs, but it was subsequently canceled and resulted in no financial gain to Jobs.



    "We are refraining from any further comments until the independent investigation is concluded," said Apple spokesman Steve Dowling on Thursday.



    Shares of Apple rose $1.43, or 2.1 percent, to close at $69.59 on Nasdaq. In extended trade, the stock slid 3.8 percent to $66.98.
  • Reply 4 of 4
    dansgildansgil Posts: 62member
    I don't think this will have too big an effect on the shares. They should go back up after WWDC on Monday or Tuesday.
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