Could Apple Be Delisted? AAPL

Several Nasdaq companies are facing delisting because they have had to delay their financial filings with the SEC due to options backdating issues. Altera is on that list. Applied Micro mentioned it in their latest earnings press release. KLA-Tencor may face the music at the Nasdaq.

Public companies have 45 days after the end of a quarter to file 10-Qs. If they don't, they break the Nasdaq "timely filing" rule and get a delisting notice from the Nas. The companies can appeal the filing, and almost all do. But some, like Mercury Interactive, don't make the cut and have to trade OTC or on the pink sheets.

Apples has a ways to go before it even faces receiving the notice. Its last quarter ended July 1.

To sound an alarm about this now would be premature. But, one would have to assume that none of the companies that have been delisted would have predicted it when they first knew their SEC filing would be delayed. If the IRS, Justice Department, or SEC get into the Apple mess, the process could become fairly long and drawn out.

An Apple delisting, not probable but possible.

Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies that he writes about.