Palo Alto, Calif.

You may have seen reports that Apple is in talks to buy Waze, the popular GPS navigation app for smartphones. Negotiations are advanced, according to TechCrunch, but founders of the upstart Israeli company, now based in Palo Alto, Calif., apparently want $750 million for their company while Apple is wiling to fork out $400 million plus $100 million in incentives.

Financial details aside, the idea of an acquisition makes plenty of sense. Apple Maps have had major problems and the revival of Google Maps on iOS 6 have consigned Cupertino's map offering

Apple is planning to give its Palo Alto, Calif., retail store a reboot as part of an upcoming construction project that will build a new "prototype" store just a block away.

The San Jose Mercury News reports that construction on an upcoming $3.15 million, 15,030-square-foot store is imminent, and that the new location could serve as a replacement for its nearby predecessor.

"Our Palo Alto store was one of our first retail stores when we opened it nearly a decade ago and it's been incredibly popular," Apple spokeswoman Amy Bessette told the Mercury News.

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