Apple Closes in the Red, Netflix Catches Bid on Rumor: Radar Stocks
Shares of Apple (NASDAQ:AAPL) closed nearly 1 percent lower on Friday, and continues to attract attention in late trading. The tech giant recently reported financial results that missed on earnings, but beat on revenue. Apple has now declined for five consecutive weeks, despite the iPad Mini (white version) selling out in a mere 20 minutes.
Netflix (NASDAQ:NFLX) shares managed to surge more than 13 percent on rumors of a Microsoft (NASDAQ:MSFT) buyout. However, this rumor appears to be pure speculation and neither company has confirmed any takeover discussions.
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Facebook (NASDAQ:FB) shares closed almost 3 percent lower, giving back a small portion of its gains it logged from a positive earnings report. On Friday, Ben Schachter from Macquarie Equities Research also raised his rating on the social networking company to Outperform from Neutral, with a $28 price target. He explains, “If FB can grow its user base and maintain engagement (issues we will closely monitor), we believe the revenue growth will follow, as there are a plethora of potentially meaningful revenue drives still to come.”
Shares of Google (NASDAQ:GOOG) edged slightly higher in late afternoon trading. Images and specifications for Google and Samsung’s Nexus 10 tablet have been leaked by BriefMobile. Scheduled to be announced at an event on Monday, the device sports a dual-core Samsung Exynos processor and a 10.1-inch AMOLED display, with a 2500×1600 resolution.
Investor Insight: Apple’s Huge Cash Hoard Continues to Grow.