Daily Dispatch: Backdating Conviction, Apple, Microsoft, and Fidelity

  • Today, Apple announced its first update to its iMac line of desktop computers in nearly a year. The new iMacs come with faster processors and either 20- or 24-inch screens in a slim new aluminum case. Although it didn't come with as much fanfare as the iPhone launch in July, the iMac launch, right before back-to-school season, will strengthen the company's computer sales, which have been growing at two or three times the rate of PCs over the last few quarters.
  • Microsoft will drop the price of its Xbox 360 gaming console by $50 on August 14, to coincide with the same-day release of Madden NFL '08 and the September release of Microsoft's Halo 3. Plagued with hardware problems that cost Microsoft $1 billion in repairs, the Xbox also faced additional competition when Sony cut the price of its PlayStation 3 by $100 last month. The additional sales generated by the reduced price and Halo 3 may help the company get in the black for the current fiscal year.