Apple Falls After Showing Off New Line - NBC New York

Apple Falls After Showing Off New Line

Unimpressed by new products, Wall Street sends Apple stock down 3.9 percent



    Apple Falls After Showing Off New Line
    Getty Images
    An ad showing the the new iPod Nano is displayed during an Apple event Wednesday in San Francisco.

    A new line of iPods and the announcement today of truce between Apple and NBC weren't enough to capture the imagination of Wall Street.

    Apple CEO Steve Jobs took the stage at a San Francisco theater to introduce slimmed down Nanos that are under a quarter-inch thick. The 8-gig version costs $149, the 16-gig goes for $199.

    Additionally, Jobs unveiled three new models of the iPod Touch, basically an iPhone without the phone.

    A year after the two market heavyweights parted ways over pricing issues, NBC Universal has returned to the iTunes fold and will once again begin selling their programs via the downloading service. NBC relented to Apple's demand for a fixed price for shows, but in return will be allowed to bundle shows for sale.

    Jean-Briac Perrette, NBC Universal' president for digital distribution, said NBC is "thrilled to be back on iTunes," but will continue to pursue other avenues for selling shows, including the video website Hulu, which it created with News Corp. last year.

    None of this was enough to embolden investors, who sent the stock tumbling $6.24 to $151.68.

    Jobs opened his presentation by walking out on stage in front of a giant screen bearing the Mark Twain quote, "The reports of my death are greatly exaggerated," a reference to Bloomberg News accidentally running the tech moguls obit on their site.