Tech wrap: Blame game at HP

May 17, 2011

What is responsible for Hewlett-Packard’s bleak profit outlook? Ask CEO Leo Apotheker and he’ll blame it on “missed opportunities” in a troubled division under his predecessor Mark Hurd.

Apotheker, who took over in September, plans to spend heavily to revamp the beleaguered unit to focus on consulting, cloud computing and higher-margin businesses.

Dell reported profits that blew past Wall Street estimates and raised its fiscal 2012 outlook for operating income for fiscal 2012, sending shares in the No.2 PC maker up in after-hours trading.

Social networking site LinkedIn boosted its IPO price range by 30 percent, a jump that could value the company at more than $4 billion. That’s 17 times the nine-year old company’s 2010 revenue. While the jump in value is a sign of the strength of investor appetite for social networking companies, some investors said they felt it had climbed too high.

Tablets have sparked much discussion at the Reuters Global Technology Summit this week. Nvidia’s co-founder and CEO Jen-Hsun Huang thinks tablets using Google’s Android platform – and powered by his firm’s processors – could overtake Apple’s iPad in under three years as better versions and more applications hit the market.

Apple, meanwhile, has proposed a standardized SIM card smaller than the ones it currently uses in the iPad that could allow the company to produce a thinner version of the device, an Orange executive told Reuters at the summit.

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