Techquity: Apple's China problem, Google's newest products
Wednesday, July 24, 2013 - 03:38
July 24 - Apple struggles in China. Plus, Google releases a new tablet and more.
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Strong in the west. But not in east apple posting profit and sales that beat forecasts but no thanks to China. More not a second. The highlight of the quarter the company's most profitable product the iPhone. More than 31 million sold analysts to increase their forecast placating -- pretty of Morgan Stanley were all looking for 29 and iPad sales fell from year earlier period acted Mac sales but not huge surprise there. More unpleasant surprise came from a thousand China. Read you from that region fell 14% from a year earlier the first time ever apple seem decline. CEO Tim Cook explained it without the Hong Kong that weighed on the overall number but he stumped as to why. In Hong Kong. Hong Kong Tuesday in international shopping season you know we're not only throws but also some resellers. And we saw more. Dramatic downturn there in the -- it's not totally clear exactly. What occurred. But but it was down on -- -- basis by about 40%. Nonetheless -- that he still thinks China's huge opportunity for apple. Investors like the earnings to be with shares climbing 5%. Sam hung out with results Thursday it already said sales would be weaker than expected -- details on that on tomorrow it's. Google trying to make it's also ran tablet inactive a stronger competitor to the iPad. The company debuting a new nexus seven today. The device is flip them the original and comes with a sharper screen -- -- US version of android. It starts at 229. Dollars and goes on sale in the US July 30 with other countries to follow. It also unveiled the -- cast the 35 dollar item plot this year television I'm allowed to play contact from the tablet phone. Or computer on to the TV. Google shares roughly flat today near 900. What -- for a giant. Neither city he used to be able to make a call at a pay phone but I did in 1984. An -- after the rest today Dell and founder Michael Dell who raised his bid for the company I had time to -- 75 share from thirteen 65. He partners over lake all wanna change the voting procedure which currently puts shares not voted in even know column. Carl Icahn who has the competing proposal for the company taking issue with that idea. He wants -- scheduled as soon as possible. It's currently set for August 2. The stock roughly flat today below thirteen dollars about a dollar a share below the higher offer you can still -- some things for a dollar. Soaring today -- electronic arts. At least ten brokerages raising their price targets on the video game company after it reported -- narrower loss than predicted on higher revenue. Shares up 8%. And uttering Broadcom. At least when he brokerages cutting their price target on the company which makes chips for Smartphones. After it forecast revenue below expectations. Shares down 14% to a 52 week. That's tech would be this Wednesday remember you can follow -- on winner and Martina are at tech when he. I'm Sharon writes and then this writer.
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