Apple makes Q4 loss

Apple Computer lost $45 million in its latest financial quarter, after taking a $49 million write-off for investments. Sales of Macintoshes fell by another 14% to 734,000 units during the quarter. Over the full year, however, revenues actually increased slightly to $5.74 billion, and the company made a profit of $65 million. Apple's annual sales peaked at $11.5 billion in 1995 and have halved since then. Meanwhile IBM, the world's biggest computer company, had a dull quarter, with revenues of $20.3 billion and profits of $1.3 billion.