Global demand and globalization have helped America's tech sector, not hurt it.
By Enrico Moretti, The Financialist
Over the past three months, Facebook (FB), Zynga (ZNGA) and Groupon (GRPN) have lost between 33% and 52% of their market value. They are not alone. Other social networking, online marketing, clean-tech and bio-tech companies have fallen out of favor with some investors, fueling speculation regarding the future of the U.S. technology sector. A growing number of skeptics are openly talking of a "high tech bubble." Is the entire sector destined to a sudden and quick demise, similar to the dot-com bust of 2001, with widespread stock market collapses and mass layoffs?
Apple announces first weekend sales its new phone, but they are below some estimates on Wall Street.
Some on Wall Street were expecting as many as 10 million iPhone 5s to be sold in the first weekend, perhaps an indication that sales are not going as briskly as everyone thought. (My own personal expectation for the weekend was sales of between 6 million and 8 million iPhone 5s).
Some US carriers are overcounting data use – and customers are the ones paying for it.
It's tough enough to make sense of your cell phone bill with all the “extra” fees, and now it turns out your bill could be wrong.
New research from the University of California at Los Angeles, presented at the MobiCom Conference recently in Istanbul, Turkey, looked at the systems of two large U.S. cell phone networks (which the researchers declined to identify) and if they’re accurately charging customers for data use.
New PCs, tablets and smartphones could be in stores by Thanksgiving.
Microsoft has shown different versions of Windows 8 for smartphones, tablets and PCs, which it will begin shipping around Oct. 26. Apple delivered the iPhone 5 along with new software for all of its hardware form factors. (Microsoft owns and publishes TechBiz, an MSN Money site.)
Revenue will be recognized over a longer period, the company says.
Adobe (ADBE) trailed Wall Street's revenue estimates in its third quarter as the company ramps up its subscription business.
The San Jose, Calif.-based firm reported revenue of $1.081 billion, below analysts' expectations of $1.10 billion and at the low end of its own guidance of $1.075 billion to $1.125 billion. Adobe took a $9 million hit from currency losses.
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[BRIEFING.COM] The major averages remain mixed as afternoon action has slowed down considerably. Over the course of the past two hours, the S&P 500 (-0.1%) has been confined to a four-point range.
Sector standing remains little changed as energy (+0.2%), industrials (+0.2%), and financials (+0.3%) hover in the green while the remaining seven sectors hold losses between 0.1% and 0.6%.
Even though equity indices trade in mixed fashion, that has not fueled a rush for volatility ... More
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