Apple Adds Movie Rentals To ITunes

Article Excerpt

APPLE INC. $139 (Nasdaq symbol AAPL; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 875.5 million; Market cap: $121.7 billion; WSSF Rating: Average) now lets customers rent movies through its iTunes store. The company hopes this will fuel sales of its computers and videocapable iPods. It should also spur interest in its Apple TV device, which can now download files directly from iTunes without a computer. Apple has sold over 4 billion songs since it launched its iTunes online download store in 2003. Besides music, iTunes also sells full-length movies, TV shows and games. The popularity of iTunes should give Apple an edge over other movie download services. The stock is now reasonably priced in relation to its prospects. Apple is a buy. buy…