Apple Takes a Dip and 3 Tech Titans on the Move
Apple Inc. (NASDAQ:AAPL) shares declined nearly 4% on Wednesday, thus ending a grim ten weeks for the most valuable United States company. Analysts believe that factors such as increasing competition in the tablet market have caused this. The stock was one of the biggest percentage losers on the S&P 500, dropping 5.2% to $545.56 at one point as more than 17 million shares changed hands, putting it on track to surpass the company’s average daily volume of over 50 days of 21 million shares.
Google Inc. (NASDAQ:GOOG): According to Reuters, the European Union Competition Commissioner Joaquin Almunia said that talks are continuing with Google Inc. to resolve complaints that they used their strength to block their competitors, though no decision has been made yet.
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Microsoft Corporation (NASDAQ:MSFT): After an extended time of closed beta testing this past Tuesday, Microsoft made the beta version of their social network, Socl, available to everyone. The program is a search-meets-social networking website that looks more like Pinterest than Facebook and has, until now, only been open to Microsoft employees and college students. At the present time, everyone with a Microsoft or Facebook account can access it. The sign-up process is simple, users connect their account with Socl and then start sharing content (e.g. photos, videos, links) and comment on other members’ posts.
Intel Corporation (NASDAQ:INTC): According to the Wall Street Journal, Intel Corporation will borrow $6 billion to partially help with their stock buyback. United States companies are using debt markets, and their low rates of interest, to make bigger payouts to their shareholders.