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BUSINESS
January 17, 2013 | By Salvador Rodriguez
Amazon.com has launched a mobile version of its MP3 store for the iPhone and iPod Touch, giving users a way to buy songs from the online retailer with their devices. The new store is a Web app, meaning Apple device users can access it using the Safari browser. By building a Web app rather than an app users have to download from the Apple App Store, Amazon doesn't have to give Apple the typical 30% cut developers pay the Cupertino company when someone buys their app or something within their app. Now iPhone and iPod Touch users "can access Amazon's huge catalog of music, features like personalized recommendations, deals like albums for $5, songs for $0.69, and they can buy their music once and use it everywhere,” said Steve Boom, vice president of Amazon Music, in a statement . PHOTOS: Tech we want to see in 2013 The store, at amazon.com/mp3 , has a catalog of 22 million songs, the company says.
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BUSINESS
December 5, 2012 | By Chris O'Brien
You know things have gotten bad for Apple Inc.'s battered stock price when analysts start pointing to something called a "death cross" as the best hope for salvation. Before I explain just what the morbid-sounding term means, let's review the carnage from Wednesday's trading. Apple's shares fell 6.4% on Wednesday, tumbling $37.05 to close at $538.79. On a percentage basis, that's the largest one-day drop in four years. If you're keeping score at home, Apple just lost $34.9 billion in market cap. In one day. In case that didn't make your jaw hit the floor, consider this: Apple lost more market cap Wednesday than either Hewlett-Packard Co.
BUSINESS
June 10, 2013 | By Salvador Rodriguez
Ahead of Apple's keynote at 10 a.m., a who's who of Apple executives are standing around waiting for the show to commence. Among them are CEO Tim Cook, design chief Jony Ive and even former vice president and Apple board member Al Gore. Times reporter Chris O'Brien is on location and has been recording his experience using Vine, Twitter's new six-second video-sharing app. Check out the sights he's seen below. WWDC 2013: Follow our live coverage of Apple's keynote ALSO: What kind of cat will the new version of Apple's Mac OS X be?
BUSINESS
December 15, 2012 | By Chris O'Brien, Los Angeles Times
SAN FRANCISCO - With only modest expectations, Robert Leitao of Santa Clarita made a decision in 1994 that would change his life. He bought Apple stock. This was several years before Steve Jobs returned to resurrect Apple, long before the iPod, the iPhone or the iPads that would make Apple the most valuable company in the world. A $1 investment in Apple at the start of 1994 is now worth about $70. "Even with the recent sell-off, I'm still doing very well with the stock," said Leitao, who works as director of operations at a Catholic church in Burbank.
BUSINESS
January 19, 2011 | By Jessica Guynn and Tiffany Hsu, Los Angeles Times
Apple found a way to divert attention from Chief Executive Steve Jobs' health Tuesday ? a blowout $6 billion in profit. A day after Jobs stunned investors and employees alike by announcing he was taking medical leave for the third time in seven years, Apple Inc. crushed analysts' estimates with record first-quarter revenue and earnings. The company's stock rallied on the report, buoyed by impressive sales of iPhones, iPads and a pipeline of consumer gadgets. Shares fell a less-than-anticipated 2.2% to $340.
BUSINESS
September 12, 2012 | By Joe Bel Bruno
Apple's stock barely budged after the technology giant unveiled the iPhone 5, which it bills as the world's thinnest smartphone. Investors seemed to shrug off the announcement -- but that's not entirely shocking. Apple shares have, on average, fallen 1.4% the day the company launched all of the previous incarnations of the iPhone, according to Morgan Stanley. PHOTOS: Apple iPhone 5 The investment bank said the week after Apple announcements haven't been all that hot either.
BUSINESS
March 4, 2013 | By Chris O'Brien
Apple's stock price continued its fall Monday, dragging the company's market value below $400 billion for the first time since January 2012.  In midday trading, Apple's stock was down $7.52, or 1.75%, to $422.95. That put its market capitalization at $397.54 billion. It also cost Apple the title of "world's most valuable company," losing it to Exxon Mobil Corp., which had a value of $ 399.69 billion in midday trading. QUIZ: Test your Apple knowledge Apple is on the verge of crashing through another low. On Jan. 24, 2012, Apple's stock closed at $420.41 per share, just before the company reported blowout earnings that sent its stock soaring to $ 446.66.  That momentum carried the stock through the year, on its way to peaking at $702.10 in September.
BUSINESS
January 24, 2013 | By Andrew Tangel
As Apple's luster dims on Wall Street, the tech giant's stock is becoming cheaper and cheaper. By at least one measure, Apple's stock is becoming a bargain. Its price-to-earnings ratio, a shorthand measure of value for stocks, has fallen well below the average of the broad Standard & Poor's 500 index. “The P/E is extremely low,” said Howard Silverblatt, senior index analyst for S&P Dow Jones Indices. As Apple's stock falls 10%, to $461.46, in early trading following Wednesday's disappointing earnings report, its P/E ratio -- based on the previous 12 months of earnings -- is down to 10.5.
OPINION
June 2, 2011
In the last decade, Apple made the 99-cent download the standard unit of music sales. Now, Apple is reportedly poised to try a second transformation, enticing music fans to store songs online — "in the cloud" — instead of on a hard drive. If the company's iCloud helps persuade the masses to embrace cloud-based services, that could help reverse more than a decade of sliding music sales. That's a big "if," however, and much depends on the labels' willingness to change. The shift from physical CDs to digital files has been a mixed blessing for the music industry, opening the door to rampant online piracy as well as promising new business models.
BUSINESS
September 29, 2012 | By Salvador Rodriguez
As worldwide attention focuses on Apple's problem-riddled Maps app, another Apple miscue is about to be quietly put to rest. This month, Apple's iTunes music social network -- Ping -- began displaying a sign notifying users that the network was no longer accepting new users and will shut down Sunday. Ping's closing comes as little surprise. Apple plans to update iTunes next month and will integrate it with Facebook and Twitter, letting users "Like" and share songs, apps and other pieces of content.
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