Market analysts say Apple's failure to deliver new iMacs and an enhanced iPod at its Worldwide Developer Conference (WWDC) has harmed its share price.
A day after Apple CEO Steve Jobs' keynote, Apple's share price dropped 76 cents to $31.73.
According to NewRatings, analysts expect Apple to announce disappointing 3Q FY04 earnings.
Investment bank First Albany predicts results will fall short, adding that "Apple is likely to have witnessed sluggish business trends in its core CPUs and iPod segments in the June quarter this year".
However, one analyst believes a new iMac will emerge soon. Merrill Lynch's Steven Milunovich said: "We believe the iMac is still due for an update, with the current format 30 months old," reports CBS MarketWatch.
Milunovich had earlier gone on record as saying he expected a new iMac at this week's WWDC.