As always, Apple ( AAPL) was in the news this week amid rumors of weak iPhone and iPad demand. On Tuesday, Nomura Equity Research cut its estimates and price target for the tech giant. Citing "signs of weaker-than-expected" iPhone 5 sales in its checks, Nomura cut its iPhone unit estimates for fiscal year 2013 by 5%, to 157 million from 166 million. For fiscal 2014, the research firm slashed its estimate by 8%, to 184 million iPhones from 199 million. On Friday, Reuters reported that Sharp has cut output for iPad screens, although TheStreet's Chris Ciaccia suggests that demand is actually shifting from the full-size 9.7-inch iPad to the iPad mini. Apple reports its first-quarter results after market close on Jan. 23. TheStreet will live-blog the report: Apple shares slipped 3.9% during the week to close Friday at $500.
No. 1 PC maker HP ( HPQ) was another tech heavyweight in the spotlight. HP's shares spiked Wednesday after The Wall Street Journal reported that potential purchasers are evaluating the company's Autonomy and EDS units. A representative for HP told TheStreet that the company doesn't comment on speculation. There have been plenty of rumors, though, about HP carving off parts of its business. In a recent regulatory filing with the Securities and Exchange Commission, HP said it will "continue to evaluate the potential disposition of assets and businesses that may no longer help us meet our objectives." HP shares ended the week up 5.9% at $17.11.
Tech earnings season kicked off with fourth-quarter results from Intel ( INTC) on Thursday. The No. 1 chipmaker beat Wall Street's estimates, but offered weaker-than-expected guidance. For the first quarter, Intel predicts revenue of $12.7 billion, plus or minus $500 million. Analysts surveyed by Thomson Reuters expected $12.9 billion in sales and earnings of 39 cents a share. For the full year, the Santa Clara, Calif.-based firm expects a low single-digit percentage increase in revenue. Intel's guidance weighed on the company's shares, which ended the week down 3.2% at $21.25.
eBay ( EBAY) beat Wall Street's fourth-quarter estimates on Wednesday, boosted by mobile and Marketplaces growth. For the first quarter, eBay forecast revenue of between $3.65 billion and $3.75 billion, compared to analysts' prediction of $3.795 billion. Excluding items, the auction site expects earnings between 60 cents and 62 cents a share. Analysts surveyed by Thomson Reuters were looking for earnings of 63 cents a share. eBay shares ended the week up about 1.0% at $54.21.
Brocade ( BRCD) ended its five-month search for a CEO on Monday, appointing industry veteran Lloyd Carney. Brocade shares ended the week up 1.4% at $5.64.
In addition to Apple, a host of other tech companies report quarterly results next week, including IBM ( IBM), Symantec ( SYMC), Google ( GOOG), AMD ( AMD), Texas Instruments ( TXN), F5 Networks ( FFIV) and Juniper Networks ( JNPR). -- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.