NY -- Standard&Poor's CreditWire 10/17/97 -- Standard&Poor's today lowered its ratings on Apple Computer Inc. reflecting ongoing revenue declines and operating losses (see list below). Cupertino, Calif.-based Apple has been struggling with extremely competitive industry conditions, a slipping market share, operating losses, and management turnover. Although Apple has a strong position in the education and desktop publishing markets, its market presence in the higher-growth corporate and consumer markets is weak and declining. In addition, the cost of developing its own operating system has saddled Apple with structurally higher operating costs than its PC competitors. Apple has made significant progress in reducing staff and operating costs. However, with annual revenue declines of close to 30%, the company's
