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Best Buy Q1 earnings beat the Street, net income slides 12%

June 14th, 2011

Shares of Best Buy stock jumped by as much as 7% Tuesday morning as the company reported results for the first fiscal quarter of 2012 that beat Wall Street’s expectations. In the quarter ending May 28th, Best Buy reported revenue of $10.9 billion, up 1% from the same quarter last year thanks to a 12% increase …

HTC sees record revenue for second consecutive month in May

June 9th, 2011

HTC saw its monthly revenue in May surpass NT$40 billion for the first time in the company’s history. Taiwan Economic News reports on Thursday that HTC’s May revenue came in at NT$40.6 billion, or US$1.6 billion, thanks to continued high demand for its smartphones. Revenue was up 115% compared to the same month last year, …

RIM letting opportunity from Nokia debacle slip, Citi says

June 9th, 2011

In a note to investors on Thursday, Citigroup analyst Jim Suva cut his rating on shares of RIM stock from Buy to Hold, dropping his price target from $80 to $45. Suva had upgraded his rating on RIM shares from Sell to Buy back in February on the assumption that the Waterloo, Ontario-based company would …

Nokia stock plummets as company lowers second-quarter, full-year guidance

May 31st, 2011

Shares of Nokia stock plummeted by as much as 12% on Tuesday as the Finnish cell phone maker lowered its second-quarter and full-year guidance for the 2011 calendar year. Nokia said competitive dynamics and market trends across multiple price categories will cause net sales of its devices and services to fall “substantially below” its previous …

Android makes Microsoft more money than Windows Phone

May 27th, 2011

According to a report by Citi analyst Walter Pritchard, Microsoft may be making more money off Google’s Android operating system than it makes off its own Windows Phone platform — five times more, in fact. Pritchard states that as a result of a patent settlement, HTC is required to pay Microsoft $5 for every Android phone sold. …

Sony to post $3.2 billion annual loss

May 24th, 2011

Sony Chief Financial Officer Masaru Kato announced to the press on Monday that the company expects to post an annual loss of $3.2 billion for its fiscal year ending in March 2011 — the second largest loss in company history. The news comes as yet another blow for the Japanese consumer electronics giant, whose online …

HTC’s April revenue balloons 113% to hit record high

May 12th, 2011

HTC’s revenue in April 2011 hit a record high, Taiwan Economic News reports. The publication cites a financial statement from HTC in claiming the smartphone maker saw revenue in April grow to NT$38.729. Equivalent to approximately $1.35 billion USD, HTC’s April revenue was up 4.5% sequentially and up over 113% compared to April 2010. Aggregate …

Asustek issues Q2 guidance; 11% increase in shipments, 5% increase in revenue

May 6th, 2011

While Acer scrambles to reverse the current negative trend that saw its PC shipments fall last quarter as revenue dove 56%, Taiwan-based competitor Asustek just issued second-quarter guidance that predicts growth in shipments over the first quarter of 2011. While analysts go back and forth over what the emerging tablet market’s impact on netbooks and …

Apple may become the first $1 trillion company [video]

May 3rd, 2011

Giddy over Apple’s consistent staggering growth — and seemingly giddier over the iPad — Formula Capital managing partner James Altucher believes that Apple is poised to become the first $1 trillion company. In fact, Altucher thinks Apple could already be a $2 to $3 trillion company. According to Altucher, Apple can basically do no wrong …