Apple Buys a Piece of AOL

Apple Buys a Piece of AOL — Last week, Apple announced it exercised existing warrants with America Online (acquired as part of a 1992 agreement) to purchase a 5.1 percent stake in AOL. The purchase totals two million shares and cost Apple about $12.5 million, but has an estimated value of about $160 million. Although most analysts see this as a good investment decision, it does raise questions about Apple’s future plans for eWorld. [GD]