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Apple Sales Bitten By Slowdown Bug

12/18/2000 02:00:00 AM Eastern

CUPERTINO, CALIF .-Apple reported that it will most likely experience a net loss between $225 million and $250 million for the company's quarter ending Dec. 30 due to slow sales in October and November.

Apple CEO Steve Jobs blamed the dismal computer market for his company's poor performance. The low sales will result in a $600 million revenue shortfall for the quarter, on sales of about $1 billion. For fiscal 2001, Apple's sales should be in the $6 billion to $6.5 billion range.

Jobs was upbeat about Apple's chances of returning to profitability in the following quarter, saying his company's plan to reduce inventory levels tied to the products to be introduced in 2001 should bring Apple back into the black.

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