Apple Computer

(AAPL) - Get Report

was down 11.8% in preopen


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trading. After Wednesday's close, the company posted fourth-quarter earnings of 30 cents per share, missing the Street's estimate, which had been reduced to 31 cents after a warning.

Credit Suisse First Boston

sliced its 2000 earnings estimate to $1.10 from $1.75 and its 2001 forecast to $1.45 from $2.10.