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July 3, 1997updated 05 Sep 2016 1:06pm

MORE GLOOM FOR APPLE, SHARES HIT 10-YEAR LOW

By CBR Staff Writer

Macintosh clone outfit Power Computing Corp’s planned IPO and its decision to build personal computers based on Intel Corp chips (CI No 3,193) weren’t the only bad news for Apple Computer Corp this week. Earlier, Education Access Inc, Apple’s leading reseller in the compulsory schooling area, said it will be doing business with IBM Corp and Microsoft in an effort to diversify beyond the Mac. All this, when added to the sale of a block of 1.5 million Apple shares this week, possibly by founder Steve Jobs (CI No 3,193), have helped shares in the troubled computer maker hit a 10-year low, closing at $13.063 on Wednesday after sinking down to $13 earlier in the day.

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