Editor’s Note: Related tickers: Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), Yahoo! Inc. (NASDAQ:YHOO), Nokia Corporation (ADR) (NYSE:NOK), BlackBerry Ltd (NASDAQ:BBRY), The Procter & Gamble Company (NYSE:PG), Netflix, Inc. (NASDAQ:NFLX)
While Google Inc (NASDAQ:GOOG) and Yahoo! Inc. (NASDAQ:YHOO) made major acquisitions of smaller tech companies last quarter, Apple Inc. (NASDAQ:AAPL) outspent them all on the biggest deal in the tech industry by buying back its own shares. …”The company spent $16 billion last quarter ($4 billion in cash, $12 billion through the so-called accelerated share repurchase program) to purchase 36 million of its own shares at an average price of just over $444,” said Philip Elmer-DeWitt with Fortune. With that kind of cash, he said, Apple Inc. (NASDAQ:AAPL) has the power to completely buy telecom competitors like Nokia Corporation (ADR) (NYSE:NOK) or BlackBerry Ltd (NASDAQ:BBRY).
The Apple Comeback Begins (Nasdaq)
Apple Inc. (NASDAQ:AAPL) may have just reported a pretty mediocre quarter. But with shares popping $20 yesterday, there are reasons to believe that this is the start of a huge comeback for the world’s largest tech stock. On the surface, Apple Inc. (NASDAQ:AAPL)’s third-quarter earnings were nothing special. Profits continued to sag, declining year-over-year for the second straight quarter after a decade of nothing but growth. Earnings per share of $7.47 were at the lowest level since 2011. Meanwhile, iPad sales are slumping, falling to 14.6 million units from 17 million sold a year ago.
Microsoft Corp. Receives “Buy” Rating from TheStreet (MSFT) (UtahPeoplesPost)
Microsoft Corporation (NASDAQ:MSFT)‘s stock had its “buy” rating reiterated by TheStreet in a research note issued on Thursday, Analyst Ratings.Net reports. The analysts wrote, “Microsoft Corporation (NASDAQ:MSFT) has been reiterated by TheStreet Ratings as a buy with a ratings score of A-. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows weak operating cash flow.”
Strong iPhone sales buoy Apple’s third quarter (BRecorder)
Sales of Apple Inc. (NASDAQ:AAPL)’s iPhone trumped Wall Street estimates after US shipments soared 51 percent in the third quarter, lifting its stock 5 percent even as profit fell. The world’s largest technology company said Tuesday that profit fell 22 percent as gross margins slid below 37 percent from more than 42 percent in the year-ago quarter. The iPhone’s solid showing eased concerns that growing competition is hurting demand for Apple Inc. (NASDAQ:AAPL)’s top-selling product as the global smartphone market matures.
