how much does an apple cost?

According to an International Herald Tribune article reprinted by the New York Times, Neil Aspinall, managing director of Apple Corps, rejected an offer from Mr. Jobs in 2003, in which the Apple Computer chief executive had sought to buy the rights to the Apple Records name for $1 million. Who is Apple Records? It is a division of Apple Corps, Ltd., on which the Beatles had released several of their albums.

First of all, let us set the record straight. The Apple Records logo is, in part, a perfect Granny Smith apple as has been cited in the AP articles. On the Beatles LP’s, Side 1 shows the exterior of the Granny Smith apple; Side 2 shows the inside, cut down the middle, seeds and all.

That said, what does Apple mean in the music business? Now, to the young, hipster generation, Apple means Apple Computers, Inc.’s iTunes Music Service (iTMS). But to the iTMS generation’s forebears, Apple means some of the most cherished music in rock n’ roll. Let It Be was an Apple Record. Abbey Road – an Apple Record. Imagine, John Lennon’s iconic album, was also an Apple Record. The Anthology series as well as the “Let It Be…Naked” album also bear the Apple Records name.
Additionally, the Beatles, once they went their separate ways, released music through Apple Records. George Harrison’s albums carried the Apple Records logo, as did Wings, and Paul McCartney’s solo work. Also Ravi Shankar, whose music influenced the Beatles, still releases albums on Apple Records (curiously, his daughter Norah Jones does not).

I mention this to counter the charge that Apple Records is defunct or just a clearinghouse for Beatles royalties. So, the question remains, is Apple Records’ name worth more than $ 1 million? Evidently, Apple Corps, Ltd. believes so. And, perhaps, Mr. Jobs thinks so as well.

That offer does not bode well for Apple Computers, Inc.’s defense. Not to overstate the value of that evidence, it tends to prove that Mr. Jobs thought that he would have to buy his peace with Apple Corps, Ltd. It appears he “low-balled” Apple Corps, Ltd. So now, the High Court in London will decide – what’s the going rate for an apple.