The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Shares Lose 5% on Sony Worries

Apple Shares Lose 5% on Sony Worries

by , 4:30 PM EST, March 8th, 2005

Shares of Apple Computer dropped 5.2% Tuesday on worries that Sony's new flash memory-based music players could take a bite out of Apple's iPod empire. Sony announced new low-cost music players today in its Walkman product line that are designed to compete with Apple's iPod shuffle.

While the new Walkman models are slightly more expensive than their iPod shuffle counterparts (see TMO's full coverage for more information), Sony included support for the MP3 format for the first time. Industry watchers have seen this as critical for Sony to be able to gain significant traction in the market because of the dominance of MP3 in the digital music sphere.

The pendant-sized NW-E100 series includes three models, the NW-E103, NW-E105 and NW-E107.

Shares in AAPL closed at 40.53, a loss of 2.22 (-5.19%), on heavy volume of 36.1 million shares trading hands.

Shares in Sony closed higher at 41.02, up by 1.71 (+4.35%), on volume of 7.8 million shares.

Brad Gibson assisted with this story.

*In the interest of full disclosure, the author holds a small share in APPL stock that was not an influence in the creation of this article.  

If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent TMO Headlines - Updated November 18th

Sat, 5:25 PM
Insights Into Apple's 16-inch MacBook Pro Design
Sat, 9:00 AM
Defense Vertical Duo Charger - $10 Off [Sponsorship]
Fri, 9:35 PM
Apple TV+: 'See' Is a Great Show that Transcends Its Captivating Premise
Fri, 6:42 PM
Protecting Your iPhone
Fri, 5:00 PM
This 1,300mAh Portable Charger Fits on Your Keyring: $34
Fri, 2:42 PM
Subscriber Numbers, iOS and Security Keys – TMO Daily Observations 2019-11-15
Fri, 1:59 PM
How to Use the Scan Tool in iOS 13
Fri, 12:24 PM
GitHub Preserves its Code in the Arctic World Archive
Fri, 12:23 PM
Apple News+ is Apparently Struggling for Subscribers
Fri, 11:26 AM
The 16-Inch MacBook Pro Provides Plenty of Reasons to go Back to Mac
Fri, 11:09 AM
New Mujjo Touchscreen Gloves Keep You Warm Whilst You Use You Use Your iPhone
Fri, 10:52 AM
Finally a Way to Batch-Rename Files on iOS
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!