Terrorist attacks cost Apple $50-$75 million

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Apple lost US$50 - $75 million in sales as a result of the Sept. 11 terrorist attacks, according to Vice President of Finance and Corporate Controller Peter Oppenheimer.

Sales were lost due to falling consumer demand after the attacks and disruption in air traffic crimped supplies of components and deliveries of computers, according to a Bloomberg story.

Apple's September sales fell from August, though they are usually higher, Oppenheimer said. "It's difficult to tell" how much of the business lost because of the attacks will eventually return, Oppenheimer said, citing the slowing economy.

The additional $50 to $75 million would have also made a big difference in Apple's recent finances. On Oct. 17, Apple announced a net profit of US$66 million. The company's numbers compared to a net profit of $170 million for the same quarter last year.

As we reported yesterday, Oppenheimer told attendees of a Prudential-sponsored technology conference in New York City that Apple -- like many companies -- bought back shares of its own stock following the terrorist attacks on New York and Washington. When the stock market reopened the following week, many stock prices went down dramatically.

This story, "Terrorist attacks cost Apple $50-$75 million" was originally published by PCWorld.

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