DUESSELDORF, Germany, July 25- Uber, whose smartphone app summons rides at the touch of a button, won a new lease of life in the German city of Hamburg on Friday when a court suspended a ban imposed by local regulators.» Read More
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.
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.
The stories seem so bleak: The sub-prime mortgage mess threatening to torpedo the global economy and plunge this nation into recession. Yet here in Silicon Valley, something weird is going on. Sure, sales are plunging, but home prices are actually climbing! The experts call it the Silicon Valley Real Estate Paradox. The most recent figures from DataQuick show that sales dropped 11% in July; but the media price of a single family home climbed 7.4% to a record $805,000.
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.
Software company SAP and personal computer maker Dell are to cooperate in retail hardware and software, they said late on Tuesday.
Ever hear of VMware? Probably not since the company works in high end "virtualization software" that makes a computer run better; the way STP or other fuel enhancers increase the performance of your car? VMware does that with software for your PC.
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.
First things first: I'm disappointed. Fake Steve Jobs has been outed and I'm bummed about it. Some mysteries ought to just stay that way. Over the weekend, the New York Times' tech reporter Brad Stone outed Fake Steve as Forbes' Senior Editor Daniel Lyons. So now, as I read the blog, instead of hearing Steve Jobs' voice tell me the words, I hear someone else. Noise. A distraction. Something NOT Steve, but just another writer trying to be Steve. And that's a bummer.
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
Apple shares plunged 7% in heavy trading Tuesday after a report--later denied--that cited production problems with the company's popular iPhone and iPod devices.
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.
Microsoft's top brass are hosting the company's Financial Analysts Meeting at company headquarters in Redmond, Washington today. I was going to be there as well, but at the last minute, changed plans for several reasons. And it was probably a good idea, at least for Microsoft.
In my earlier post, I talked about the Street's expectations for Google. Now, I'll focus on Apple. The company suffered much the same thing as Google, these past few months, when it came to the iPhone and the exuberant expectations around this product. We knew it was going to be big; important; game-changing; huge; fill-in-the-blank with the adjective of your choice.
Now that the major tech earnings parade has largely passed by, I have a chance to reflect on some bizarre developments swirling around both Google and Apple. This is the first of two blogs today, but I'll focus here on Google. It's interesting to note, that both companies are caught in a strange whirlpool of shifting euphoria, great expectations--and then punishing share-price brutality when performance doesn't match up with what the experts were looking for.
Apple's conference call continues at this hour with the company's Chief Financial Officer Peter Oppenheimer re-iterating the company's projections to sell 10 million iPhones, despite the perceived slow start the product has suffered. Further, the company's shares opened to enormous volatility after being halted just moments before the earnings release hit the the tape.
Apple Inc. released its Third Quarter numbers and for a company more than doubling this past year, this was not the news investors were hoping for. The Third Quarter was a blow-out by normal standards: the 92 cents a share and $5.41 billion in revenue soundly beat the 72 cents and $5.285 billion the Street expected. Same goes for the 1.76 million Macs and 9.8 million iPods shipped on the quarter. Gross margins climbed to 36%. All very good news.
It's a weird Wednesday as we anticipate earnings news from Apple after the close later today. Weird because we got this hint into Apple's numbers from AT&T yesterday when the company disclosed 146,000 iPhone subs that first weekend the phone went on sale. We'll get a far better picture from Apple as far as iPhone sales are concerned today; but AT&T's news didn't stop Apple shares from suffering their worst, one-day point decline in seven years.
Too much hype? Or not enough? It's clear, from AT&T's earnings news this morning, that Apple iPhone projections were way ahead of reality. That "popping" noise could be Apple shares. I wrote earlier today that Apple's highly hyped iPhone performed nowhere near Wall Street expectations during its first 30 hours on sale: AT&T reports 146,000 activations during its first weekend on sale.