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Apple shares doing well because of possible Google deal?

By Derek Sooman

On August 14, 2005, 11:26 AM

Shares of Apple Computer set an all-time high on Friday, perhaps because of rumours about a major new partnership with Google. It’s likely that Apple is about to make an announcement about a deal where Google will offer Apple's iTunes music store through its own site. Apple was not able to make a comment on this, but rumours are flying that Google is going to offer iTunes somehow on their platform.

Shares of Apple closed regular trading up $2.10, or 4.8%, on Friday to $46.10. The company's shares traded up as much as $2.22, or 5%, intraday. Volume totalled nearly 33 million shares, well above its three-month norm of 18.6 million shares.

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