Having fallen $2.125 on Thursday, Apple Computer Inc shares were off another $2.75 in mid-morning trading on Friday at $44.75 after analysts cut earnings estimates on the grounds that the company cannot meet demand for its new Macintosh IIcx with 80Mb at a time when demand is falling for older Macintosh lines; analysts at Hambrecht & Quist, Goldman Sachs, First Boston and Alex Brown & Sons all reportedly cut their forecasts, with Hambrecht’s Bruce Lupatkin, cutting his fiscal third-quarter earnings estimates to 75 cents a share from his previous 85 cents, and reduced his fourth quarter estimate to 95 cents a share from $1.06; last year Apple did 71 cents a share in the third quarter and 84 in the fourth.
