Apple Downgraded by Citigroup and 3 Tech Titans on the Move
Apple Inc. (NASDAQ:AAPL) was downgraded to a neutral rating by Citigroup late Sunday, noting research showing “near-term supply-chain order cuts” that bring into question the strength of the iPhone 5. Apple shares today are barely over the $500 mark, having traded as low as $501.23. They’re currently up about 0.6% at $512 and it seems that there is some support at this level even as the entire market is moving higher.
Google Inc. (NASDAQ:GOOG) is close to emerging largely unscathed from a two-year federal investigation of their web-search business. This news may be disappointing to rivals who were hoping Google would be caught up in antitrust litigation. The Federal Trade Commission may agree to end their investigation due to a number of voluntary changes that Google will agree to make in their search practices to satisfy some of the agency’s concerns. They will not have to sign a consent decree.
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Intel Corporation (NASDAQ:INTC) said that they see renewed vigor in forms and designs of computing devices like tablet PCs and convertibles in 2013 as input methods such as voice and touch gain traction.
Microsoft Corporation (NYSE:MSFT): At the Dell World conference last week, Dell Corporation’s Vice Chairman and President of their PC business, Jeffrey Clarke, told analysts what he thought of the name Windows RT, as reported by the Australian Financial Review. Clark said he warned Ballmer not to use the Windows brand name in the new tablet OS since it would confuse consumers into thinking it supports traditional Windows applications. Designed to run on ARM-based tablets, Windows RT runs only Windows Store aka Metro apps.
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