“Shares of Akamai Technologies Inc. helped pull the Nasdaq 100 index down midday Thursday after a rumor that Apple Inc. would stop using the company’s technology to deliver audio and video to its iTunes Store customers via the Internet, and instead use Google Inc.,” The Associated Press reports.
“As of 11:26 a.m. EDT, Akamai shares fell $1.36, or 4.6 percent, to $27.90, after hitting a 52-week low of $25.97. The stock began to rebound slightly as the market questioned the veracity of the claim,” AP reports.
AP reports, “WR Hambrecht & Co. analyst Bob Stimson said the rumor is not grounded in truth, and that he is unsure of the source considering such a move would require massive data transfers. ‘It doesn’t make any sense,’ Stimson said. ‘It would be an enormous conversion for Apple to move all of its files onto Google’s network.'”
Full article here.
[Thanks to MacDailyNews Reader “qka” for the heads up.]