And so it goes with Wall Street. Half an hour before Apple’s MacBook event today, Apple was trading at $109.80 (down 0.46). We’re now half an hour after the event, and AAPL is down -5.39 to 104.87. This tends to be the trend with Wall Street, though where Apple almost always drops after a keynote. more »

Apple stock (AAPL) dropped nearly 18% yesterday, reaching their lowest level in over a year. The tumble came after RBC Capital Markets analyst Mike Abramsky and Morgan Stanley analyst Kathryn Huberty each cut their ratings on Apple’s stock in anticipation of slower earnings growth for the current quarter and fiscal year. They believe the continuing downturn in the economy will see fewer consumers spending the premium for Macintosh computers, and will instead focus on the sub $1,000 PC market, which Apple currently avoids.

But, if you have plans to call your analyst today, it may be wiser to buy, than to sell, according to Computerworlds Seth Weintraub.

According to Piper Jaffray, Apple has the best financial prospects of all the companies followed by the firm. Apple, Inc. has officially been added to the Alpha List. The Alpha List is a prestigious list of the companies in the best financial situations, and with the best outlook in the near future.

According to the analysts at Piper Jaffray who put Apple on the list, the decision to add them was three-fold.

Check out the reasons after the break.

Apple announced yesterday their financial results for its fiscal 2008 third quarter, which ended June 28, 2008. The Company posted revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share. These results are up from revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarter’s revenue.

Details after the break.

Andy Hargreaves, an Analyst from Pacific Crest, has high hopes for AAPL. This morning, he raised his estimate for AAPL $10, from $225 to $235. Also of note was his AAPL EPS estimate for Fiscal September ’09, which he brought up to $6.55 from $6.20. With many analysts and firms upping the estimates and predictions, more »