Let u be a solution of the differential equation u " + Ru = 0, where R is r
ational. Newton's method of finding the zeros of u consists of iterating th
e function f(z) = z - u(z)/u'(z). With suitable hypotheses on R and a, it i
s shown that the iterates off converge on an open dense subset of the plane
if they converge for the zeros of R. The proof is based on the iteration t
heory of meromorphic functions,and in particular on the result that, if the
family of K-quasiconformal deformations of a meromorphic function f depend
s on only finitely many parameters, then every cycle of Baker domains off c
ontains a singularity of f(-1). This result, together with classical result
s of Hille concerning the asymptotic behaviour of solutions of the above di
fferential equations, is also used to study their value distribution. For e
xample, it is shown that, if R is a rational function which satisfies R(z)
similar to a(m)z(m) as z --> infinity and has only k distinct zeros where k
< (m + 2)/2, then delta(0, u) less than or equal to k/(m + 2 - k) < 1.