Techquity: Apple's Mac attack, HP's board troubles
Monday, February 25, 2013 - 02:55
Feb. 25 - Analyst lowers price target for Apple because of weaker Mac sales while Hewlett-Packard's board faces more criticism.
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It's a Mac attack for apple. The brokerage is trimming its price target at this time it's -- -- him going from 750 to 710 dollars but sticking with a buy rating. The culprit weak sales of the Mac computers. Human missed its -- to justice model for the slowing PC business as consumers increasingly moved ipads and iphones instead. But won't please iphones have not taken off is emerging markets because of that the cost. Apple has seen new plan to address this in India itself the Smartphone there to a payment plan that lowers the upfront cost of the consumer. The 840 dollar price today equals almost two months worth of wages for the average entry level software engineer. But it seems to be working so far shipments tripled during the fourth quarter according to analysis before consultants. Shares of apple are down fractionally today. In our best of the rest we've got HP and they've got more troubles on their board chairman railing and two others. Are facing criticism from an advisor to union pension funds that are also shareholders in the company a letter of pain. By Reuters from CTW investment group. Blames three directors for what it calls continued strategic and corporate governance challenges. The group is expected to meet the lane and other members to air their concerns in person. Separately HP is jumping back into the tablet business is launching the -- seven or android based device cost 269. Bucks an April. The company previously tried and failed the tablet that will be the touchpad which it gave selling -- -- just seven weeks. The touchpad had he web OS operating system which HP acquired from pomp. And denounced today it will sell EG team LG used in Smart TVs shares of HP are fractionally north of nineteen bucks. Earlier this month we mention noted short seller Andrew left and -- trauma research calling 3-D printing companies overvalued he also accused the CEO 3-D systems exaggerating advances in the products and contributing to bubble in those shares. Shares took another fall today after disappointing investors the stock fell more than 10%. Before cutting losses reading system posted revenue growth that missed expectations but still rose 45%. Shares are still however nearly triple the price that they were in march of last year. For soaring sputtering our look at movers sorry is Barnes & Noble. Chairman and founder Leonard Riggio offered by the bookstore division but not the -- 9% sputtering as Avid Technology the audio and video editing software maker delayed reporting fourth quarter results saying it needs more time to. The value accounting treatment related to bug fixes upgrades and enhancements to -- products. Stock is down 10%. That's it particularly this Monday remember you can follow us on Twitter RT -- equity. I'm John arena the sports.
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