This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BlackBerry's Bump, Apple's Pump: Tech Winners & Losers (Update 1)

(Updates from 12:53 p.m. ET with closing information.)

NEW YORK (TheStreet) -- After closing up more than 10% yesterday, BlackBerry (BBRY - Get Report) shares continued to thrive, rising 9.46% to $11.80 amid further rumors, hearsay, and speculation.

Yesterday's news that the company would explore "strategic alternatives" has exacerbated the rumors swirling around the Ontario-based tech giant's future.

Fairfax Financial Holdings, BlackBerry's largest single shareholder owning 10% of the stock, could be an eventual acquirer. Lending credence to this rumor is that Fairfax's CEO Prem Watsa, often known as the "Canadian Warren Buffett," resigned from BlackBerry's board yesterday due to what the company's press release called "potential conflicts that may arise during the process."

Watsa said in a statement, "I continue to be a strong supporter of the Company, the Board and Management as they move forward during this process, and Fairfax Financial has no current intention of selling its shares."


Apple (AAPL - Get Report) shares rose 1.34% to $473.61 after a prominent analyst released further predictions.

Building off of yesterday's reports of a new iPhone unveiling on September 10, Piper Jaffray's Gene Munster reiterated his Overweight rating and $655 price target. He predicted that the September 10 event would mark the beginning of a new Apple product cycle, with the cheaper iPhone and the iPhone 5S released at that event, iPad updates in October, a TV announcement later in the year, and a larger screen phone and iWatch in mid-2014. Munster lowered his estimate of the cannibalization rate of the cheaper phone (reportedly called the iPhone 5C) to 25% from 50% given the leaked videos of the new phone's casing. He also predicted that Apple would omit certain software features, such as Siri, from the 5C.

Munster's expectations for the iPhone 5S are "minimal." Apart from basic updates such as in memory and battery life, he anticipates a fingerprint scanner with a basic unlocking feature.

Finally, Munster wrote that he believes that "now is the time to own shares of AAPL." He believes that the stock will be flat year-over-year in the fourth quarter 2013, up 15% in March 2014, and up 21% in June 2014.

In other Apple-related news, Oracle (ORCL) CEO Larry Ellison said we've already seen the future of Apple without Steve Jobs, pointing out it's happened once before.


1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AMCX $78.68 0.00%
AAPL $131.49 -0.22%
BBRY $10.03 0.00%
FB $80.05 -0.12%
GOOG $539.78 0.00%

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs