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Canon Takeover Rumors Buoy Apple Stock

Canon Takeover Rumors Buoy Apple Stock — Apple’s stock dipped briefly with the announcement of its reorganization, but rose again last week amid rumors that the Japanese electronics giant Canon planned to launch a bid to buy Apple Computer. Canon denied any intention to buy Apple, but Apple refused to comment on the speculation. Word has it that a Macintosh licensing agreement with Canon would be a much more likely prospect, and Canon has previously expressed interest in manufacturing Macintosh clones. However where there’s smoke, there may be fire: during the last year we have heard repeated rumors about Apple possibly being sold (most recently to Motorola) and Apple’s stock performance has been lackluster despite earnings growth and a smooth transition to the Power Macintosh platform. [GD]

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