The late ticker: Apple cuts prices

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The Independent Online
Apple Computer announced that it would cut prices on its older model Macintosh Performa and PowerBook 1400 series by up to 31 per cent.

The price cuts come just two days after Apple reported worse-than-expected losses for the second quarter - sales fell 27 per cent to $1.6b over the period.

Apple is struggling against customer concerns about quality, confusion over its product line and uncertainty about its direction.

The company has been targeted for a possible takeover attempt by Oracle Corporation's chairman, Larry Ellison.

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