13-Year Flashback: What Was The World Like Last Time Apple Missed?

The buzz on Wall Street today is the big drop in Apple Inc. AAPL's stock following its Q2 earnings report. The company earnings of $1.90 per share on sales of $50.56 billion, while estimates called for EPS of $2.00 and sales of $51.97 billion. Apple's guidance was also a big disappointment, with Q3 sales projected to come in at $41-$43 billion vs. $47 billion estimates.

This was the first year-over-year sales decline for the tech behemoth since 2003. Also, iPhone sales came out at 51.2 million, about 1 million above estimates but was the first sales decline in the product's history.

Related Link: 5 Positives And 5 Negatives From Apple's Earnings Report

So, what exactly was the world like in 2003? Let's take a look back.

Markets

• The S&P 500 and Dow Jones Industrial Average were both trading around the 8,000 mark.
• Oil was trading under $30 a barrel.
• The average price of gasoline at the pump was about $2.30 per gallon.

Apple

• The now $538 billion market cap company was trading under $10 a share.
• The iTunes Music Store was launched with 200,000 songs at $0.99 each. iTunes downloads topped 25 million songs and the number of iPods sold through the year was 2 million.
• The iPhone was still four years away from being introduced.

Entertainment

• Best Picture Oscar Winner: "Chicago"
• Top-Rated TV Show: "CSI: Crime Scene Investigation"
• Billboard's Top Single: "In da Club" by 50 Cent

Sports

• Super Bowl Champion: Tampa Bay Buccaneers
• World Series Champion: Florida Marlins
• Stanley Cup Champion: New Jersey Devils