The future of wireless growth will come from charging users for multiple devices on the same plan, T-Mobile CEO John Legere says.» Read More
News of an iPhone price-cut took just about everyone by surprise, not the least of whom were the 270,000 iPhone buyers that first weekend they went on sale, many of whom stood on line for endless hours to plunk down their $599 for device.
Apple Inc. unveils a complete redesign of the iPod Nano: the new iPod "Touch" with Wi-Fi, a long-awaited 160 gig iPod "Classic," what promises to be a lucrative partnership with Starbucks. But the headline that torpedoes Apple shares: the $200 iPhone price cut just two months after unveiling what became known as the "Jesus Phone."
Apple Inc. calls the gathering "...And the Beat Goes On," but investors wonder whether the news coming Tuesday at the invite-only special event will be enough to pump these shares even more. Speculation abounds at just exactly what Apple will unveil: the big money bet is on a redesigned family of iPods...
This week's Tech Check during "Closing Bell" offers a nice cross-section of gizmo headlines and a look at the news that's likely to come from Apple next Wednesday. Get ready for a re-designed iPod, the first major changes of the device in two years. Lots of rumors about a full touch-screen, no buttons, bigger memory, the Mac OS on board, and maybe even wi-fi downloads.
The FOMC minutes from the Aug. 7th meeting came, and traders were disappointed with the commentary. How disappointed? The Dow dropped 140 points after the minutes came out at 2:00 p ET, an unusual move considering FOMC minutes rarely move markets, let alone 150 points. I mentioned earlier that the Fed minutes today would be more important than usual...
Remember young George Hotz? He's the 17-year-old Apple hacker who figured out a way to "unlock" the iPhone so it would work on his T-Mobile SIM card, instead of the AT&T SIM card it came with? George enjoyed a whirlwind of press coverage, including quite a bit here on CNBC. I filed for "The Today Show" on Saturday about him.
Tech Check on "Closing Bell" today is a fun one. The first product I talk about is the "Panoply" from Hewlett-Packard. It's a 120-degree, curved screen that could be a gamer's heaven! HP has shown this in prototype form before, but it appears this is getting closer and closer to a real product release.
Seventeen-year-old George Hotz owns a mean soldering iron, and now he's Apple Inc. and AT&T's worst nightmare--and the source of some serious embarrassment. You see, George spent the last 500-hours of his summer vacation unlocking Apple's iPhone, the year's hottest gadget and only available to work on the AT&T network. Until now.
So UBS releases an update on Apple Inc. iPhone expectations and shareholders go wild. Tell me something I don't know! I'm sitting here in Terminal C at San Jose International Airport, reading the news on my BlackBerry, and the Apple nugget caught my attention. Apple shares have been losing altitude for weeks. $140-plus down to $112 and now clawing their way back.
Late last year, in his first and last interview with CNBC following the blowup of the cholesterol drug torcetrapib, I asked new Pfizer CEO, Jeff Kindler, how he could go from "selling chicken" at Boston Market (he used to run the chain for McDonald's) to "selling drugs". Based on the subsequent vibe I got, it was clear that some of the Pfizer media relations people at the time didn't like the question.
When Viacom's MTV unveiled its new "Urge," online digital music destination at the big Consumer Electronics Show last year, it had all the earmarks of a major initiative. Justin Timberlake joined Van Toffler on stage during Bill Gates' keynote to unveil the service which would ultimately be tied to the then-upcoming Zune media player from Microsoft.
Last week, we started a new weekly segment called TechCheck, sponsored by AT&T, that will air each Friday on "Closing Bell" in the 4p ET hour. The 60-second spot is a quick, entertaining look at some of the stories the tech community is talking about from the world of technology. Stories that I might not have a chance to get to on the air during the week, but are still worth a mention because they're interesting and/or fun.
It's the kind of blowout quarter weary tech investors were hoping for. Just about everyone suspected that HP would beat estimates, thanks to ongoing momentum in the personal computer industry, as well as falling component prices, especially memory chips like DRAMs which have seen a 40% decline in some sectors.
DirecTV earnings came in this morning--with net income down 2 percent from last year and killed by a 22 percent INCREASE in operating expenses. This canceled out the good news that a key revenue metric for the satellite TV business was up 7% thanks to higher demand for High Definition and DVR services. It's that high definition that's DirecTV's saving grace.
A day after former Brocade CEO Gregory Reyes was found guilty on all 10 securities fraud charges brought against him, dozens of Silicon Valley executives--and hundreds of executives nationwide--faced with the same allegations, will have to re-think their defense strategies. The sweeping verdict in the first-of-its-kind criminal case for the U.S. Justice Department sent a seismic ripple through this region yesterday.
Here we go again--when it comes to all the speculation swirling around whether Google will jump into the cell phone market, not with new software, but with a handset of its own. To wit, we've already reported the myriad possibilities and puzzle pieces pointing to a possible cell-phone market entry by the search giant
In an interview with CNBC, Richard Parsons, chief executive of Time Warner, offered his views about the firm’s quarterly results, the likelihood of acquisitions, and his annoyance with the market.
The news appeared dire: a web report of serious problems connected to Apple's iPhone and the stock gets whacked. No, that's not a story from today. That news harkened back to June 3 when the website engadget.com reported erroneously of an internal Apple memo purporting to show that iPhone's launch would be delayed six months.
The Federal Communications Commission voted 4-1 to adopt a key "open access" resolution supported by search giant Google when a new wireless spectrum is auctioned in January, what could be a significant blow to wireless leaders AT&T and Verizon.The auction could raise as much as $15 billion.
The experts call the 700Mhz wireless spectrum the last piece of undeveloped beachfront real estate in cyberspace, and Google wants it. "I'll tell you, even at Google you can't make a $4.6 billion commitment without being serious," says Chris Sacca, Google's vice president who's spearheading the company's aggressive lobbying effort of the FCC to make sure its voice is heard in the upcoming auction of wireless spectrum.
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