Items tagged with Business

We hate to break it to investors who dumped barrels of cash into Apple over the last several months, but the bitter truth is it was a bad investment. Maybe in the long term they'll all look like savvy investors and the past three months will become a distant memory. Or maybe Apple was never worth as much as its share price suggested. To put things into perspective, Business Insider crunched some numbers and found that more money has been lost in Apple over the last three months than in Hewlett-Packard (HP) and Research In Motion (RIM) combined. How so? Follow BI's lead on this one. At its peak... Read more...
Intel Chief Paul Otellini recently announced that he plans to retire from chipzilla in May 2013, which leaves the world's largest semiconductor player plenty of time for find a replacement. Who will it be? That's the big question that nobody knows the answer to, though Otellini did indicate that it's likely to be someone who already works for Intel. "It's not up to me but I think that's the most likely outcome. I'm very comfortable with the internal candidates and the track record of internal versus external in our industry shows pretty clearly you want to stay inside if you can," Otellini said... Read more...
Finicky investors weren't as high on Apple yesterday as they have been in the past. Apple's share price dropped 6.4 percent on Wednesday, representing the company's biggest single-day drop in four years and shaving $35 billion from its market cap. What gives? That's a good question, and there are no concrete answer to be found, only theories. One of them comes from Mercury News, which believes it has to do with dividends. In order to avoid possible tax hikes on cash as a result of the so-called "fiscal cliff" that's around the bend, companies have already started dishing out dividends for next... Read more...
Although HP's attempt at competing in the consumer tablet market with the HP TouchPad may have been short-lived, the company has continued to compete in the business segment of the market with products such as the ElitePad. In yet another effort to attract the business crowd, HP recently announced the new HP EliteBook Revolve. The EliteBook Revolve is part of the company's ninth generation line of convertible tablets. What sets this convertible apart from previous generation models is the fact that it's running the touch-friendly Windows 8 OS. The EliteBook Revolve comes with third-generation Intel... Read more...
Hewlett-Packard today announced financial results for its fourth fiscal quarter and full fiscal year ended October 31, 2012, noting an $8.8 billion asset impairment charge related to the acquisition of software firm Autonomy. That's a pretty big write-off, and HP is essentially claiming fraud on the part of Autonomy. "The majority of this impairment charge is linked to serious accounting improprieties, disclosure failures and outright misrepresentations at Autonomy Corporation plc that occurred prior to HP's acquisition of Autonomy and the associated impact of those improprieties, failures and... Read more...
Intel President and Chief Executive Officer (CEO), Paul Otellini, is calling it quits, though he isn't stepping down from the world's largest chip maker immediately. Instead, he'll work through the holiday season and into the second quarter of 2013 before retiring in May, Intel announced today. "Paul Otellini has been a very strong leader, only the fifth CEO in the company’s great 45-year history, and one who has managed the company through challenging times and market transitions," said Andy Bryant, chairman of the board. "The board is grateful for his innumerable contributions to the company... Read more...
When you're hot, you're hot, and when you're cold, well, things are still pretty good if you're Apple. Ahead of the iPhone 5 launch, the Cupertino company saw its share price hit an all-time high a couple months ago, reaching more than $705. Since then, Apple's share price has been steadily declining. Now that the dust has settled from the iPhone 5 launch and iPad mini hype, Apple's share price has started to come down, closing at $526.59 entering the weekend, the lowest it's been in the past six months. In pre-market trading ahead of Monday morning's bell, Apple's share price is up slightly to... Read more...
Dell's fiscal 2013 third quarter revenue dipped to $13.7 billion, down 11 percent sequentially, the company announced this week. Battered by weak spending in the PC sector and a trend towards mobile handheld devices, Dell's profit was cut nearly in half, declining 47 percent to $475. Dell warned that it "sees the challenging global macro-economic environment continuing in the fourth quarter, which will continue to impact the company's results." The world's third largest PC maker (behind HP and Lenovo) saw its Enterprise Solutions and Services revenue grow by 3 percent year-over-year to $4.8 billion,... Read more...
Wall Street's going to be busy today as some 800 million Facebook shares held by insiders become eligible to trade, completely free of previous lock-up provisions. This isn't the first wave of restricted Facebook stock to be freed up -- Facebook Chief Operating Officer Sheryl Sandberg has already offloaded more than $11 million worth of previously restricted shares, and so have a few other executives -- but it's by far the biggest wave. All eyes are on Facebook today to see how many shares change hands. Despite the drop in overall value compared to Facebook's $38 IPO price, the stock is still valuable... Read more...
The Internet is abuzz this evening after Reuters ran an exclusive report claiming Advanced Micro Devices (AMD) had hired J.P. Morgan Chase & Co. to "explore options," including a potential sale of the company. You can imagine the sullen faces on AMD fans far and wide, and also those who favor healthy competition in the market place. There's just one problem -- AMD isn't shopping for a buyer, not for itself or for any of its assets, or so the chip maker says. Reuters based its report on un-named sources who said a sale of the company wasn't necessarily a priority, but it was definitely looking... Read more...
This one's probably a long-shot, but apparently Foxconn (Hon Hai Precision Industry) is thinking about branching out and building manufacturing facilities in the United States. Two potential destinations reportedly being evaluated include Detroit, Michigan and Los Angeles, California. Foxconn is a major manufacturer of electronics devices that are shipped and sold in the U.S. and other parts of the world. It's the leading producer of Apple products and also has contracts with companies like Dell, Sony, and Microsoft, to name just a few tech heavyweights. Setting up manufacturing plants in the U.S.... Read more...
Perhaps as the result of a momentary sense of panic following Foxconn's reiteration that those newfangled iPhone 5 models are a bear to build, investors grew slightly skittish yesterday and sent Apple's share price down nearly 4 percent by the end of the trading day. Apple stock is now the lowest it's been in five months. "It's not easy to make the iPhones. We are falling short of meeting the huge demand," Foxconn Chairman Terry Gou recently stated. That's not the only reason Apple's stock is getting battered. It's down over 20 percent from a three-month high of more than $700 per share, the price... Read more...
Sharp recently warned investors that it was on the verge of collapse after doubling its full-year net loss forecast to $5.6 billion, citing a "worse than expected drop" in LCD TV sales in Japan and China. At the time, it was being reported that Sharp was looking for outside help to stay afloat, and was in talks with Hon Hai Precision (Foxconn) to become the company's largest shareholder. Did Apple beat them to the punch? Horace Dediu, an analyst with Asymco, took note of some interesting financial happenings at Apple, including the fact that expenditures overall were $2.3 billion higher than forecast.... Read more...
One of the biggest benefactors of the mobile device revolution that's taking place right before our very eyes is ARM, which licenses its technology to a number of players, like NVIDIA and Qualcomm (to name just two). If you own a smartphone or tablet, there's a good chance it's rocking ARM-based hardware inside. As a result, ARM is sitting on a record amount of cash and the highest stock price in more than a decade. Shares of ARM shot up this month to the highest they've been since 2000, as investors reacted positively when the company posted record quarterly revenue two weeks ago. In addition,... Read more...
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