“Apple Inc. rose for a second session on Wednesday as the smartphone company prepared for a flurry of big events next week,” Sue Chang reports for MarketWatch. “Apple shares rose 2% to trade slightly below $500 on brisk volume.”
“In addition to an event on Tuesday at its Cupertino, Calif., headquarters, where it is expected to unveil new models of the iPhone, Apple also invited the media to a presentation on Sept. 11 in Beijing,” Chang reports. “The China event has prompted speculation that Apple will launch the iPhone with China Mobile Ltd.”
Chang reports, “Microsoft Corp. slid 2% on the heels of a downgrade at Morgan Stanley to equal weight. ‘The proposed Nokia mobile deal represents a good strategy to build Windows smartphone share longer term, in our view. However, investors likely discount MSFT’s ability to well execute thru the vertical integration and marketing challenges ahead and an additional ~$19B in [expenses] adds to the risk profile,’ Morgan Stanley’s Keith Weiss said in a report.”
Read more in the full article here.
“Smartphone company”?!
I saw that too.
Microsoft shares are down because they’re afraid that Elop will be taking over from Ballmer. The bounce that greeted Ballmer’s departure was only a short term blip because it’s now obvious where Microsoft will be heading in the future ( Hint- the same direction as now ).
In related news… Nokia is up almost 4% today and a whopping 34% yesterday, so it was a blessing at least for the shareholders.
By the way…Ballmer and Elop is cruising here in Finland right now for several days, traveling from city to city (where there are Nokia employees). Today they met the prime minister and other ministers in the parliament in an effort to “soften the bad rumors”
The general consensus in the media is that Steve&Apple initiated the downfall of Nokia’s smart phones, Google&Samsung demolished the candy bars (Nokia used to sell 1 million a day of those cheap budget phones) and Eflop gave the final death knell by destroying what was left after Steve&Google run the company over.
I think it was more Steve than Google tho since Google is just a copycat who stole Apples ideas.
Ohh well, time to end the Nokia era once and for all, bye bye Nokia…