Apple STUMBLES in China and 3 Hot Stocks to Watch
Latest figures from IDC on the smartphone market in Q2 in China place Apple (NASDAQ:AAPL) at 4th place, down from 2nd, after the company’s market share falls to 10 percent as consumers hold off on purchases in anticipation of the new iPhone, or have bought other brands. Samsung (SSNLF.PK) is at the top of the heap with a 16 percent share and Lenovo is 2nd with 11 percent.
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Autodesk’s dismal Q2 numbers have rubbed off on Adobe (NASDAQ:ADBE) shares which fall as the market thinks it too could face the same problems – both companies specialize in high-end software meant for the media and entertainment sectors. Unfavorable analyst comments about sales of Adobe’s flagship CS6 Suite add to troubles.
Amazon (NASDAQ:AMZN) beefs up content for its Amazon Prime Instant Video by expanding an existing licensing agreement that adds hundreds of NBC TV episodes to its library, which now boasts of more than 22,000 movies and episodes, and is a tough competitor to Netflix.
According to Bloomberg, HSBC (NYSE:HBC) is discussing with U.S. authorities its transgressions of various laws, such as dealing with banned countries, with a view to arriving at a settlement. The bank has already provided for $700 million for any fines it may have to pay. Yesterday, S&P lowered its rating of HSBC from stable to negative.