Apple's profit plummets

Apple Computer Inc. said yesterday that its second-quarter profit fell 84 percent, another reflection of the squeeze on its prices during the past year.

The company's revenues rose 5 percent but, for the first time, were below Compaq Computer Corp., which for nearly a decade has been the No. 3 personal computer maker behind IBM and Apple.

Apple earned $17.4 million, or 15 cents a share, for the three months ended April 1. That compares with $110.9 million, or 92 cents a share, for the same period of last year.

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