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HolidayBuyer's Guide
Tech Industry

Apple stock: An empire in decline

A series of events have marked the way down for Apple Computer's share price, which has fallen almost 50 percent since ex-chairman Gilbert Amelio took the helm in February of 1996.

Was Apple (AAPL) cofounder Steve Jobs behind the sale of 1.5 million shares of the company's stock?

That speculation on June 26 moved the struggling computer maker's stock toward new lows, like a downhill skier hitting a steep run.

On June 30 that the company's largest clone maker, Power Computing, made plans to launch an initial public offering and expand its offerings to include the Microsoft-Intel platform.

Then, last week, Apple announced its chief executive Gilbert Amelio was resigning, leading Wall Street to worry that the third-quarter results would be lower than anticipated.

The stock has fallen approximately 50 percent since Amelio took the helm in February of last year, and last week hit a 52-week low in intraday trading of 12-3/4.

But with its better-than-expected earnings results today, announced after the market's close, the stock may be in for another wild ride tomorrow. 

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