Apple stock drops despite jump in Q3 profit

By JESSICA MINTZ , AP Technology Writer, Technology / Business

Customers examine a display at an Apple computer store, in Boston, Monday, July 21, 2008. Apple Inc. says its fiscal third-quarter profit climbed 31 percent from a year ago. It was helped by demand for its Macintosh computers and iPod media players. (AP Photo/Steven Senne)

(AP) -- Shares of Apple Inc. fell sharply as investors focused more on the company's cautious guidance for the current quarter than on the blockbuster Macintosh and iPod sales during the previous three-month period.

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