Apple Computer Inc shocked markets with a warning on Friday that it expects to report a loss for the current quarter – traditionally much the strongest for personal computer companies. It blames mostly price cutting in the fiercely-competitive market. We are currently engaged in an intensive review of all aspects of our business, including the factors contributing to our first quarter results, and will take appropriate actions to address the challenges, said Michael Spindler, president and chief executive.Apple expects first quarter revenue to be higher than the $2,800m for the first quarter last year, but the current trend indicates revenue will be lower than internal projections. Apple shares were trading at $35.50 to $36, off from Thursday’s $38.25.
