Apple's Big Beatles Yawner: Tech Edge
NEW YORK (
) --
Apple
(AAPL) - Get Report
billed it as a day you'd never forget. Investors however, moved along in not-so-memorable fashion.
After 10 years of haggling with the music label
EMI
and the owners of the music copyrights, Apple said it has
finally secured the entire Beatles studio collection
. The Beatles catalogue will be available in a "digital box" on iTunes for $150.
|
As is the custom, when Apple sets up special product announcement, observers and investors get jazzed about the possibilities. When it is the subject of iTunes, the speculation invariably
and Web-based song storage, a big new sales opportunity for Apple.
And every time Apple rises to the stage and comes short of expectations, investors take it as a disappointment. Like today, which represents another squandered opportunity to turn the hugely popular iTunes store into something more.
With all due respect to the Beatles and their fans, what's next from Apple in this vein? The complete syndication rights to M*A*S*H TV episodes? The exclusive 8-hour extended version of Avatar?
Apple shares fell $2.60, or 1%, to $304.44 in Tuesday morning trading immediately after the Beatles announcement.
--Written by Scott Moritz in New York.>To contact this writer, click here: Scott Moritz, or email: scott.moritz@thestreet.com.To follow Scott on Twitter, go to http://twitter.com/MoritzDispatch.>To send a tip, email: tips@thestreet.com.
Editor's note: "Tech Edge" is a blog written and compiled by Scott Moritz, TheStreet's senior tech correspondent. The blog explores behind-the-scenes tech news, rumors and reports that Wall Street folks are talking about.
