Steve Jobs Remembered: Tech Weekly

NEW YORK ( TheStreet) -- Apple ( AAPL) was in the spotlight again this week as the world marked the one-year anniversary of Steve Jobs' death.

Jobs' successor as Apple CEO, Tim Cook, paid tribute to the tech icon on Friday in a message on the company's home page. Cook praised his predecessor's contributions, both to Apple and to the broader world of technology.

"One of the greatest gifts Steve gave to the world is Apple," Cook wrote. "No company has ever inspired such creativity or set such high standards for itself. Our values originated from Steve and his spirit will forever be the foundation of Apple."

Jobs, who stepped down from the Apple CEO's role in August 2011, was 56 when he lost his long battle with pancreatic cancer last year.

"Steve's passing one year ago today was a sad and difficult time for all of us," said Cook. "I hope that everyone today will reflect on his extraordinary life and the many ways he made the world a better place."

Apple also posted a video tribute on its Web site showing Jobs as most people remember him, proudly unveiling products such as the iMac, iPod and iPhone. The succession of black-and-white still images, set to Johann Sebastian Bach's moving cello suite "No.1 prelude" was interspersed with quotes from Jobs.

Shares of Apple, which is rumored to be preparing a new "iPad Mini", lost 2.2% for the week to close at $652.59 on Friday.

HP ( HPQ) shares plunged on Wednesday after CEO Meg Whitman outlined the sheer scale of the company's massive turnaround plan.

"I have said from the beginning that this is a four- to five-year journey," Whitman stated during HP's meeting with analysts in Santa Clara, Calif., warning that HP's still in the early stages of its corporate revamp. "2013 is a fix and rebuild year -- we will be working through the disruptions from the necessary changes we made in 2012."

HP says that it's on track to complete its restructuring by the end of fiscal 2014. By 2016, Whitman expects to see the company's revenue growing in line with GDP and operating profit growing faster than revenue.

For investors, though, the near-term pain looks set to continue. "I believe that we will continue to see a broad-based profit decline across business units in 2013," said Whitman. "The good news is that the bulk of the profit decline should be contained within Enterprise Services," she added.

The No. 1 PC maker also delivered a weaker-than-expected fiscal 2013 outlook during the analyst event. Excluding items, the Dow component expects earnings of $3.40 to $3.60 a share, well below Wall Street's estimate of $4.18 a share.

Earlier in the week, HP rolled out its Software-Defined Network (SDN) strategy, unveiling new software and applications to tap into the emerging tech trend.

HP shares lost 14% for the week to close at $14.73 on Friday.

On Wednesday, MetroPCS ( PCS) and T-Mobile USA, the U.S. unit of Deutsche Telekom ( DT), announced their merger plan. The deal is expected to close in the first half of 2013, with the combined company using T-Mobile's branding. The new entity will have 42.5 million subscribers, according to a statement released by the two companies.

The following day, Bloomberg reported that Sprint ( S) is in the "early stages" of considering a counterbid for MetroPCS, as the company jostles to better compete against telecom heavyweights AT&T ( T) and Verizon ( VZ).

MetroPCS shares gained 8.0% for the week to close at $12.65 on Friday. Sprint finished the week down 5.8% at $5.20.

Zynga ( ZNGA) shares plunged in extended trading on Thursday as the social gamer gave a weak outlook.

The San Francisco-based firm announced preliminary third-quarter revenue between $300 million and $305 million. Excluding items, the company expects a result between break-even and a loss of 1 cent a share.

Analysts surveyed by Thomson Reuters were looking for the Facebook ( FB) partner to report break-even results on $275.9 million in revenue for the third quarter. For all of 2012, Zynga cut its previous projections for bookings and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization).

Zynga's shares lost 12% for the week to close at $2.48.

Also on Thursday, Facebook announced that it has reached the milestone of 1 billion users.

"If you're reading this: thank you for giving me and my little team the honor of serving you," explained Facebook CEO Mark Zuckerberg, in a blog post.

Facebook shares dipped 3.6% during the week's trading to close at $20.91 on Friday.

-- Written by James Rogers in New York.

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