NEW YORK (Standard&Poor's CreditWire) Aug. 26, 1999--Standard&Poor's today raised its senior unsecured debt and corporate credit ratings for Apple Computer Inc. to double-'B'-minus from single-'B'-plus. The upgrade reflects continuing profitability and an improved financial profile. The outlook is revised to stable from positive. The ratings for Cupertino, Calif.-based Apple reflect extremely competitive personal computer (PC) industry conditions and weak, but improving, market share. Apple has a good position in the education and desktop publishing markets, and is regaining market share in the consumer PC market. While the company's recent unit sales growth has been well in excess of the overall market growth, Apple remains dependent on a relatively limited product base. Apple's financial profile has significantly
