TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
Apple Computer Inc. Profit Plunges: The Cupertino, Calif.-based company said first-quarter earnings dropped 75% despite record sales of its flagship Macintosh personal computers, as price competition ate into profit. Earnings in the quarter ended Dec. 31 shrank to $40 million from $161.3 million a year ago, and gross margins fell to 24% of net sales from 40.5%, Apple said. Per-share earnings tumbled to 34 cents from $1.33.
