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Technology Stocks : Apple Inc.

AAPL 277.47

+0.2%

3:59 PM EST

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To: Loring who wrote (25362)	7/8/1999 7:32:00 PM
From: Eric Yang	Read Replies (2) of 213173

"YAHOO board is talking about MSFT's investment in AAPL as though it is more than a straight $50 mil investment. Are there hooks that I don't know about?" Microsoft invested $150 million in AAPL in 1997. At the equivalent of $16.50 per share that comes out to be about 9.1 million shares. Apple didn't really need that cash and it was a drop in the bucket for MSFT, so it was a sign of good faith more than anything else. The investment is locked away (can not be sold) in the form of preferred stock with no voting power. They will become convertible into regular shares in the year 2000. The dilutive effect of these shares are already accounted for in the current diluted share count. Eric appleinvestors.com

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