toggle

AAPL Stock: 130.28 ( 0 )

Printed from http://www.macnn.com

CNN: Dow should replace AIG with Apple

updated 09:40 pm EDT, Mon September 15, 2008

Apple suggested for Dow

A decade ago, Apple was the subject of deathwatches and buyout rumors. Now, a CNN Money editor at large is suggesting that Apple could replace AIG in the Dow Jones industrial average. The New York Times is reporting that AIG (American International Group), a large insurance company, is seeking a $40 billion bridge loan from the Federal Reserve, in the face of a potential downgrade from credit ratings agencies that could spell its doom. CNN Money is reporting that AIG will have to sell its aircraft-leasing arm, International Lease Finance Corp, and possibly its annuities business and auto insurance unit to raise cash.

With AIG's extraordinary troubles, CNN Money's Paul La Monica suggests that Apple should be considered as a replacement for the floundering insurance company on the Dow, with Wells Fargo and Cisco Systems also mentioned as contenders. La Monica said, "Apple dominates the consumer electronics market with its iPod and iPhone and is expected to generate $40.4 billion in sales in its next fiscal year - higher than the estimated revenue for Dow components Coca-Cola, Walt Disney and Alcoa."




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. testudo

    Joined: Dec 1969

    -1

    good

    Maybe this will get the price of the stock back up....

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Advertisement

Recent Reviews

JBL Synchros Reflect in-ear headphones

All headphones are not created equally, especially when it comes to use during vigorous activities or workouts. Over-the-ear headphone ...

Bracketron Power Flex external battery

When we're traveling or just generally out and about, we've taken to bringing a tablet and Bluetooth keyboard with us, rather than a ...

Brother HL-3140CW Color Laser Printer

It's inevitable, at some point somebody needs a hardcopy of a document. Paper never runs out of battery charge, after all. Our Mom, j ...

toggle

Most Commented