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Archive Home > 2008 > July > 22 > Apple’s profit jumps 31%, but stock drops

Apple’s profit jumps 31%, but stock drops


July 22, 2008

Macintosh and iPod sales helped boost Apple Inc.’s fiscal third-quarter earnings 31 percent, beating Wall Street’s expectations Monday, but investors pummeled the stock after Apple issued soft guidance for the current quarter.

Cupertino, Calif.-based Apple earned $1.07....

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