Apple's suppliers were also in the news this week, with Qualcomm ( QCOM) announcing a dividend hike. Qualcomm, which makes chips for the iPads and iPhones, as well as a host of other smartphones and tablets, announced on Tuesday that it will raise its quarterly dividend from 21.5 cents per share to 25 cents per share. The raise is effective June 20. Shares of Qualcomm gained 0.76% during the week, to close at $67.19.
Yahoo! ( YHOO) slashed its workforce on Wednesday, cutting 2,000 jobs in an effort to improve profitability and focus on its core businesses. In a press release, Yahoo! CEO Scott Thompson said, "We are intensifying our efforts on our core businesses and redeploying resources to our most urgent priorities. Our goal is to get back to our core purpose -- putting our users and advertisers first -- and we are moving aggressively to achieve that goal." Shares of Yahoo closed out the week lower, off 2.1% at $15.06.