MarketWatch: Apple says 2009 Macworld Expo will be its last

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Apple says 2009 Macworld Expo will be its last
Steve Jobs won't give keynote next month; stock falls after announcement

By Benjamin Pimentel, MarketWatch


SAN FRANCISCO (MarketWatch) -- Apple Inc. stunned investors and the technology industry Tuesday by announcing that it's withdrawing from the annual gathering in San Francisco where the Silicon Valley icon has unveiled, often in dramatic fashion, its most successful products.

The Cupertino, Calif.-based company said late Tuesday that the upcoming Macworld Expo in January will be its last, and Chief Executive Steve Jobs will not give a final keynote at the event.

The news sent the company's shares down more than 5% after hours, underscoring the significance of Apple's decision. Shares later pared some losses, down 2.5% to trade at $92.91.

One longtime Apple analyst said the company apparently no longer saw Macworld as an effective venue, while speculating that other factors may be involved, including Jobs' health. Another observer wondered whether there's some sort of power play going on at Apple.

"Trade shows have become a very minor part of how Apple reaches its customers," the company said in a statement. "Apple is reaching more people in more ways than ever before. The increasing popularity of Apple's retail stores, which more than 3.5 million people visit every week, and the Apple.com Web site enable Apple to directly reach more than 100 million customers around the world." ......(more)

The complete piece is at: http://www.marketwatch.com/news/story/Apple-says-next-years-Macworld/story.aspx?guid=%7B6029853E%2D9D08%2D41E6%2D8F42%2DBA6B2750510F%7D&dist=hplatest