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Apple's Stock Drops On Delay of Apple TV Launch

Shares of Apple fell after the company said it would have to delay until March the launch of its gadget for streaming video and other content from computers to TVs.

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The company had said in January the $299 Apple TV set-top box would be available this month.

"Wrapping up Apple TV is taking a few weeks longer than we projected, and we now expect to begin shipments mid-March," Apple spokeswoman Lynn Fox said Monday. She declined to comment further.

Apple TV is designed to move digital content from a user's computer to a TV set and is anticipated to be a highly competitive product in the growing crop of offerings that deliver Internet-based videos to the television.

Some analysts are projecting the set-top box could be yet another hit product for Apple, adding to the Cupertino-based company's growing fortunes as it expands its consumer electronics portfolio beyond Macintosh computers and iPod portable players.