was down 14.7% in preopen
trading. After Tuesday's close it warned that the first quarter would be its first nonprofitable period in three years. Apple said revenue for the quarter would be $1 billion for 2001 it would be $6 to $6.5 billion, the both below the Street's estimates. The company cited lower-than-expected computer sales and discounted prices.
Credit Suisse First Boston
cut the stock to hold from buy and
lowered its 2001 outlook to predict a loss. Other PC makers were lower.
was down 4.9%.