Apple Computer Falls Further on Earnings Shortfall Due to Weak Sales - TheStreet

Apple Computer

(AAPL) - Get Report

fell 4.2% in preopen

Island

trading Friday morning. After the company warned that fourth-quarter earnings would be just 30 to 33 cents per share, below the Street estimate of 45 cents Thursday, Apple's shares plunged 46% in after-hours trading.

The company blamed lower-than-expected sales of its new

Power Mac G4 Cube

, lower September sales in all regions and slower educational sales.

Bear Stearns

lowered its ratings of the entire PC sector, and tech stocks were broadly lower in the preopen.

Dell

(DELL) - Get Report

was down 5.4% and

Cisco Systems

(CSCO) - Get Report

fell 3.3%.