what happened to apple in 2000?

[Oats]

What in the world happened to Apple's stock price in sept of 2000? I realize this is old news, but I couldn't believe what I was seeing when I looked at the 5 year history of AAPL stock price. What caused such a dramatic and sudden drop? I can't think of anything that Apple has done recently to deserve such treatment! Please fill me in.

[jeremy.king]

Google helped me find this.

http://www.macobserver.com/article/2000/09/29.5.shtml

Seems there were a bunch of people who freaked about missed earnings and analysts who just didn't like Apple.

[patrick0brien]

-Oats

Apple was the first to report the earnings hit by the recession. Being the first, the analysts said:

"See! Their toast! They're finally dying! Sell!"

Then the following weeks and months, everybody began hits, if not out-and-out losses. And the analysts responded:

"Oh, umm. Err. Ok. Uhh. Hmm. Well, maybe Apple is just reporting first."

Since then, Apple has been reporting profits.