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Apple Computer Gets More Bad News from Wall Street.(Originated from San Jose Mercury News, Calif.)
Knight Ridder/Tribune Business News, January, 1996 by Langberg, Mike
CUPERTINO, Calif.--Jan. 30--Bad news continued to rain down Monday on Apple Computer Inc.: A Wall Street credit firm lowered its ratings for Apple's debt to junk-bond levels, its stock hit an 18-month low, and a new survey showed a continued decline in Apple's market share.
Apple's stock dropped $1.50 to close at $29.13 a share Monday. The company's shares have lost almost a third of their value since November, shortly before Apple began revealing difficulties that culminated in a $69 million loss during the last three months of 1995 and the announcement of a restructuring plan Jan. 17 that includes the layoff of 1,300 employees during the next year.
Dataquest Inc., the San Jose market research firm, said Monday that Cupertino-based Apple fell to third...
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