Mac users can now rent movies from iTunes through a service called iTunes Movie Rentals with prices starting from USD 2.99 for library titles and USD 3.99 for newer movies with higher definition versions rented for one extra dollar.
In the US, Hulu, Cinemanow, Vongo and a few other firms already offer users a wealth of movies for much cheaper rates , although partly because of Apple's stringent DRM requirements, none supports Apple's platform.
Interestingly, the movies can be rented on the computer and played on your iTouch and are only available in the US.
UK Apple users still can't buy, let alone rent, movies from Apple's iTunes store.
Apple has announced that it has already sold four million iPhones since its launch and added a few features for the iPhone and the iTouch such as Maps which acts like a pseudo-GPS and the ability to send text messages to multiple people - although iTouch users will have to buy the software upgrade for USD 20.
The Cupertino-based firm has also released a new 1TB device called the Time Capsule which would automatically and wirelessly back up everything on one or more Macs running Leopard as well as Apple TV Take 2, a USD 229 box which allows viewers to watch downloaded movies straight on their TV box without the need of a PC.
Apple's shares were down by more than 6 percent during the worst spell of yesterday's battering.