A story from the Associated Press today reports that shares of Apple dipped in Friday trading after an analyst cut earnings estimates and suggested the company’s sales “may be less than stellar.” The share fell US$1.22, or more than 2 percent, to $51.03 in afternoon trading. “UBS analyst Benjamin Reitzes, who has a ‘Buy’ rating on the stock, cut his fiscal fourth-quarter earnings estimate to 47 cents per share from 50 cents per share, and slashed his revenue projection to $4.63 billion from $4.8 billion, based on the belief that new iPods may ship later than originally expected,” notes the story. “He also lowered his target price to $77 from $90.”
