Anybody who wondered how AT&T managed to stand up against the Verizon Wireless February iPhone launch wasn’t paying much attention to their TV set.
Apple CEO Steve Jobs emerged from medical leave to launch an Internet-based service for consumers called the iCloud, which lets users play their music and get access to their data from any Apple device. Jobs walked briskly onstage after James Brown’s “I Got You (I Feel Good)” blasted over the sound system, but shared the spotlight with other Apple execs who showcased Apple’s enhancements to its PC operating system and mobile platform.
Apple CEO Steve Jobs leaps back into the spotlight to unveil the iCloud, an online music storage and streaming service that investors hope will be the next source of growth for the maker of the popular iPhone and iPad mobile devices.
LinkedIn made its remarkable debut on the New York Stock Exchange, at times trading more than 171 percent above its IPO price of $45. The stampede to buy the stock had some remembering back to another time when investors also loved tech stock IPOs: the 1990s and the dotcom bubble.
RIM showed off a new version of its BlackBerry Bold phone with upgraded software, aiming to regain its stride after last week’s profit warning and other recent stumbles. RIM also said it will manage corporate and government communications sent using Apple’s iPhone and iPad, and devices running Google’s Android software, through its secure BlackBerry Enterprise Server.
Research in Motion shares tanked to their lowest level since October after the BlackBerry maker slashed its sales and earnings forecasts Thursday, an unexpected blow that followed an anemic forecast in late March and last week’s troubled launch of its PlayBook tablet. “We’ve heard for too long about RIM’s great product roadmap. Consumers are not listening nor waiting,” National Bank analysts said in a note. “RIM does not even seem to have dual cameras on its upcoming BlackBerry product line-up. The last time we checked, video is the future.” All hope seems to rest on what the Canadian company pulls out of its labs and onto center stage at BlackBerry World, starting Monday, where the company will unveil a new generation of touchscreen BlackBerrys.
Microsoft reported a dip in quarterly sales of its core Windows operating system, mirroring a recent downturn in personal computers. The world’s largest software company met Wall Street profit estimates, as strong sales of its Office suite of applications and game systems took up the slack. “Microsoft to me is no longer a growth stock but it is a very attractive value stock. They continue to generate tremendous free cash flow. Their balance sheet is really unmatched,” Channing Smith of Capital Advisors said.
Apple denied it is tracking the movements of its iPhone customers, but said it will provide a software update that stores less location information on phones in response to public outcry over privacy issues. Apple plans to release a software update that would cut the size of the wireless hotspot location database stored on its iPhones, and stop backing up that information. The software will be released in the next few weeks, it said.