RIM's Rocky Road: Tech Weekly Recap
The chipmaker now expects fourth-quarter revenue between $13.4 billion and $14 billion, compared to its prior forecast of $14.2 million to $15.2 million.
The global PC supply chain is reducing inventories and microprocessor purchases as a result of disk drive supply shortages, according to Intel. Shortages, which followed the recent floods in Thailand, are expected to continue into the first quarter, it added.
Intel, however, said that PC sales are expected to be up sequentially in the fourth quarter.Shares of Intel were down 8 cents, or 0.34%, at $23.23 on Friday.
In contrast, Broadcom (BRCM) raised its fourth-quarter outlook on Wednesday, noting robust demand for its semiconductors. "We're seeing strength across all our segments," explained Scott McGregor, the Broadcom CEO, during an interview with CNBC shortly after market open. "Smartphones are definitely selling well; we're also seeing infrastructure, we're also seeing products from the home." Broadcom shares ended the week up 56 cents, or 1.99%, at $28.72.
Investment banks who underwrote Groupon's (GRPN) November IPO issued mixed reviews of the daily deals company on Wednesday. Of the banks that initiated coverage of Groupon on Wednesday, seven gave it a neutral rating while four started it off with a buy. Groupon's stock closed down 4 cents, or 0.17%, at $23.04 on Friday.
On Thursday Verizon Wireless, a joint venture of Verizon (VZ) and Vodafone (VOD), became the first carrier to sell the Galaxy Nexus smartphone, which uses the newest version of Google's Android operating system, dubbed Ice Cream Sandwich. The Galaxy Nexus is made by Samsung, and is the fourth phone in the Nexus series of smartphones. The phone has a 4.65-inch HD Super AMOLED Contour Display, and features a screen resolution of 720p (1280x720). Verizon shares ended the week up 36 cents, or 0.94%, at $38.78.
Next week, all eyes will be on Oracle (ORCL) when the database giant reports its fiscal second-quarter results after market close on Tuesday. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org.
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