In the wake of a 52-week low for Apple
Computer shares, the Cupertino, California, company has frozen most of the
money set aside for research and development, according to a New York Times report.
In addition, company officials plan to present to the board of directors in
two weeks further plans for restructuring the company.
To make matters worse, Standard & Poor announced a downgrading of the
company's debt rating, a change that will make it more costly for Apple to take
As the deal to merge with Sun Microsystems appeared to be permanently
snagged, Apple officials reportedly have sought bids from other companies,
including IBM and Motorola.