Wealthy investor Carl Icahn, has pulled his entire investment out of Apple stock. With Icahn being one of Apple's biggest backers, claiming multiple times that Apple stock was undervalued, and offers more to investors than meets the eye - well, Icahn has pulled his stock and it's making headlines.
Just a month ago, Apple stock was trading at $110, and now it's sitting at $93.74 at the time of writing. How much did Icahn hold in Apple stock? Well, he owned around 0.83% of Apple stock - which is a huge portion of stock for a single investor, which was valued at an insane $4.5 billion. Late last year, Icahn sold around $700 million worth of shares, but this time it was a much bigger chunk.
The reason Icahn sold his Apple stock? Apple is facing issues in China, which are struggling to create devices for the middle class - you know, the people who can't afford $1000 smartphones. This is why Apple has shifted into devices like the iPhone SE, but it hasn't been enough. Apple recently reported that their revenue decreased for the first time in 13 years, due to falling iPhone demand across the world.
While the entire gaming market has shifted to mobile and consoles in terms of AAA game development, the PC is still a powerhouse when it comes to profits.
According to Newzoo's latest Global Games Market Report, we have the latest sales numbers on mobile, PC and console gaming. PC gaming is more profitable than console gaming, but mobile gaming blows them both away. Newzoo's Global Games Market Forecast Model projects gamer numbers and revenues per segment, region and screen on a global, regional, and country level. The report also shows the share of paying gamers and average spend in the same granularity.
The company explains in the report: "These projections are analyzed in various ways, comparing year-on-year growth rates, market share, CAGRs and absolute amounts in USD between the regions and segments, as well as the development of specific regions or segments in time. These projections are compared to available third-party sources on a local or global level. Given the pace of the developments in the games industry, Newzoo reviews its conclusions and assumptions every quarter, taking into account newly available data and insights. Before publication of any data, Newzoo also performs validation checks in various ways including comparison against historic internal data, comparison against market figures from alternative sources and validation from several Newzoo clients".
Valve has officially teamed with Bitpay, introducing support for Bitcoin as a payment method on Steam. Gamers can now use digital currency to purchase games and more through Steam, which is pretty damn cool.
Rory Desmond, Director of Business Development, North America and APAC, explained on the official website: "Today we're announcing a new payment integration with software and gaming giant Valve which will bring bitcoin payments to Steam gamers worldwide".
Gamers and PC enthusiasts have long thought of Intel as a PC company thanks in part to sheer longevity, and of course its technically excellent processors. But as the PC market under-performs, Intel is now looking at itself in a new light, one that focuses more on other technology sectors.
The company's chief executive Brian Krzanich made it crystal clear for the first time this week that it's transforming itself "from a PC company to a company that powers the cloud and billions of smart, connected computing devices." Which is only logical, given 40 percent of its revenue and 60 percent of its profit margin now come from sources other than the PC space.
Email privacy had always been a point of contention in nearly all circles. It wasn't until quite recently that most cloud providers started encrypting your messages while just sitting in your inbox, and requests for your email data have been made without search warrants under other executive order authority as well as under the auspices of the older law, the Electronic Communications Privacy Act.
The Email Privacy Act was just passed by the US House of Representatives that would require the use of a warrant when looking at emails, even those that are 180 days or older. This new bill is a much needed update to the Electronic Communications Privacy Act, which required only a more simple subpoena to find older emails. This bill subsequently closes that loophole. This bill may be response to the recent lawsuit from Microsoft regarding the older ECPA, who argue that it violates the Constitution.
Just as with before, the government is not required, and won't, notify you if they're rummaging through your emails though some providers have taken it upon themselves to notify users if they're the subject of an investigation. This bill, however, still has to pass through the Senate, and then be rectified by the President, but with the momentum it already has, it very well could be a much needed update to privacy that doesn't get hung up for political reasons.
After taking 13 years of dominance in their quarterly results, Apple has just reported its fiscal Q2 2016 results, reporting a 16% decline in iPhone sales when compared to the same period of last year.
Apple still pulled $50.6 billion in revenue for the three-month period, down 13% from the $58 billion in the same quarter of 2015. The company did warn the decline was on the way, with company CEO Tim Cook saying that the iPhone 6S upgrades were outpacing those when the iPhone 5S launched.
Even with the decent sales, it wasn't enough to match the "accelerated" upgrade cycle it saw with the iPhone 6 in 2014. Two other major sources of iPhone customers are people switching from Android, and first-time smartphone owners. When it comes to this, Cook says that iPhone business is good. In the last six months, Apple has had more people switching over to iPhones more than any other 6-month period, ever.
Rhapsody International -- parent company of streaming music companies Rhapsody and Napster -- has appointed Mike Davis (pictured here) as its first CEO. Until now, the company has been led by executive committee.
Davis' background lies in private equity; he recently served as a "growth adviser" and senior operating consultant to LA firm The Gores Group.
The move seems to be a response to the intense competition seen from Spotify and Apple Music, as has recent feature additions to the Rhapsody client in recent months.
Davis notes Rhapsody pioneered the concept of digital, subscription-based music and it's now taking hold in the industry at large. The company now sees itself playing catch-up to its own creation; if only for the sake of competition, one hopes Davis is the man for the job.
AMD's longstanding residence of the Sunnyvale campus will be no more before long, rumor has it; The Irvine Company is set to buy it from New York real estate investment trust W.P. Carey, according to real estate sources. Irvine Company is known to raze offices and R&D campuses, so it makes sense that we're hearing AMD is consequently seeking another headquarters in Silicon Valley.
While the company forecast for AMD has been looking increasingly better in recent times, it's still 2,000 employees shy of what it was in 2011, and so it's said to be looking at properties with a 35 to 40 percent footprint reduction, or about 175,000 - 225,000 square feet versus the 319,000 square feet of its current location.
AMD has had a great week, topping it off with a huge 52% rise in stock to $3.99. This is the highest gain in a single day since AMD stock was listed, all the way back in 1979.
For the day, AMD was the biggest gainer and the most active stock on the NASDAQ exchange - with 140 million AMD shares traded. This is 10x the 50-day average of 12 million or so. Why the sudden and huge spike in AMD shares? The company just landed a joint venture deal to sell high performance enterprise x86 processors to the Chinese market.
This move will see AMD compete with Intel on a grander scale, as it has AMD providing the technical knowledge, while THATIC provides the resources, and financial support. The licensing deal should see AMD secure $293 million, plus royalties.
Even better, is that AMD has three semi-custom designs in upcoming consoles. This means that AMD will have technology inside of the next-gen Xbox, PlayStation and Nintendo consoles - which is an insanely huge win for the company.
iBooks and iTunes movies became available in China seven months ago; now both are blocked from sale on orders from the State Administration of Press, Publication, Radio, Film, and Television. Apple Music and Apple Pay are said to still work.
The electronics giant hopes its services will return "as soon as possible." No doubt there given China is Apple's second biggest market. It declined to offer details on the blockade, but it's known that Chinese regulators are motivated in such decisions by a desire to control media and its population in the name of the Communist Party as well as to favor Apple's Chinese competitors.