Apple shares took a hit after the company reported lower-than-expected per-share earnings Thursday. In a new weekly podcast recapping the week's biggest technology stories, reporter Ina Fried commented on the fall in share price.
"Apple's stock has risen incredibly, and...at a point this week they were worth more than Dell, so I think that reflects a level of investors' betting that they can do no wrong. So people got spooked when all of the sudden people looked at the numbers and said wait, macintosh sales really weren't that good." However, the sea change shouldn't have been unexpected, according to Fried. "I think though this is something that Apple knew. They were starting to get the first bit of a halo effect and instead they announced they're transitioning to chips, so they're bound to take some kind of a hit."
Listen to the entire weekly Reporter Roundtable podcast here.