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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (718)	10/18/2000 10:32:01 PM
From: Teresa Lo	Respond to of 8925

Market Sentiment: Well, AAPL did not do well after the earnings release either today. Sentiment-wise, what we need to see is the market be able to go up on bad news, to really see a bottom, where investors can stand up and say that they are willing to look beyond the valley to the next peak. "PALO ALTO, Calif. (Reuters) - Apple Computer Inc (NasdaqNM:AAPL - news) Wednesday reported fourth quarter earnings that fell just short of Wall Street's already lowered forecasts, and warned that sales and profits in the current quarter would fall short again as it cleared out leftover inventory. In a grim conference call with analysts, the company outlined a number of errors from bad pricing decisions to ill-conceived changes in its sales force, that had resulted in the poor performance. It downplayed the impact of broader industry trends. ``We have a management team that feels accountable for missing our numbers,'' Chief Financial Officer Fred Anderson told analysts. ``The last thing we want to do is point to the industry for what went wrong internally.'' Apple stock, which has sagged from about $53 a share since it warned last month of a steep shortfall in fiscal fourth quarter sales and earnings, dropped nearly $2 in after hours trading to $18-3/8 from its regular NASDAQ close of $20-1/8."