Key Tech Sector Updates for the Week Ended June 23, 2017

Technology stocks (QQQ) rose a blended 2.Three% in the week ended June 23, 2017, after 3 weeks of terrible returns. The S&P 500 Index rose simply zero.2% in the same length.

Oracle (ORCL), BlackBerry (BBRY), Red Hat (RHT), and Accenture (ACN) all suggested income within the week. Micron Technology (MU) is the best era business enterprise of notice in order to announce its income consequences within the coming week.

Advanced Micro Devices (AMD) was the most important gainer in the technology zone within the week ended June 23. AMD stocks rose a jaw-dropping 23.9% in the week, possibly because the result of the launch of its new high-performance processors.

Red Hat stocks rose thirteen.2% an ultimate week. The software employer’s stocks soared after its earnings beat estimates. It additionally supplied sturdy steering for monetary 2Q17.

Oracle stocks rose 13.0% remaining week after the employer beat income expectations. Meanwhile, BlackBerry stocks had been the most important losers of the technology zone inside the week, falling 7.Five%. The business enterprise’s stocks plummeted on June 23 after it published a big fall in its quarterly sales.

Comcast (CMCSA) stocks fell four.Three% inside the week ended June 23 after influential media analyst Craig Moffett downgraded the cable zone to an “impartial” rating.

Accenture stocks fell 3.8% inside the week after the commercial enterprise consulting employer trimmed its margin outlook, however, said financial 3Q17 income that met expectancies.

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Blackberry continues to shift consciousness to software enterprise
BlackBerry published a steep fall in its quarterly revenue as it endured to shift its consciousness to its growing software program commercial enterprise. Its economic 1Q18 sales fell forty one%, to $235 million, as compared to $four hundred million in financial 1Q17. The Canadian software and device employer suggested earnings of $671 million, or $1.23 according to share, in its monetary 1Q18. A year earlier, the employer noticed an income fall of $670 million.

Oracle income beat analysts’ estimates
Oracle released its economic 4Q17 consequences on June 21. The worldwide computer generation business enterprise suggested EPS (income in keeping with share) of $zero.89, a rise of almost nine.Nine% yr-over-12 months (or YoY), beating analysts’ expectations by using $zero.Eleven. Its sales came in at $10.Nine billion, a 2.8% upward thrust on a YoY basis.

Google to sell robot-making agencies
Alphabet (GOOG) is promoting two of its robotic-making corporations for an undisclosed amount. The consumer is SoftBank, which has proven hobby in robots and AI (artificial intelligence) era.

The robotics companies are Boston Dynamics and Schaft. The latter is based in Tokyo and is a spin-off of the University of Tokyo.

Facebook and Snap to reveal authentic content material on their respective platforms
Time Warner (TWX) introduced that it might be making an investment $a hundred million in Snapchat (SNAP). The media giant will provide Snapchat with round ten authentic indicates according to yr for the subsequent years. This comes at a time when Snapchat’s download rate is falling. The deal could result in a better down load rate for the app.

Facebook (FB) is likewise speaking to Hollywood studios and agencies about generating shows so one can release original programming on its very own systems inclusive of Instagram.

Apple-Qualcomm criminal battle maintains
Apple (AAPL) prolonged its protracted felony combat in opposition to Qualcomm (QCOM) on June 20, arguing that Qualcomm’s enterprise model violates patent regulation and that some of its patents are invalid.

AMD to offer Intel a run for its cash in the server chip segment
Advanced Micro Devices launched its new generation of excessive-overall performance processors for data centers on June 20 in a bid to drive its way again into the information center computing engine market, that’s presently dominated by way of Intel (INTC). As we referred to above, AMD shares soared 23% closing week.

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