3 Tech Titans Making Noise: Apple’s Bondholders Lose Value, Google Saves HP, and Cisco’s Leverage
Apple (NASDAQ:AAPL): Bondholders have reportedly lost roughly $280.6 million of market value since purchasing $17 billion worth of the company’s issued bonds, as it declines due to rising yields that are pulling themselves from record-setting lows. About $3 billion of 30-year, 3.85 percent bonds, issued at 99.418 cents on the dollar, dropped 4.3 cents through yesterday to 95.145 cents on the dollar since the offering made on April 30th, creating a loss of $128.2 million and pushing the yield on the bonds to 4.1 percent
Google (NASDAQ:GOOG): During the earnings call on Wednesday, Hewlett-Packard (NYSE:HPQ) CEO Meg Whitman attributed the company’s better than anticipated performance to strong tablet sales – tablets that run Google’s Android. The open-source system helped HP salvage its mobile platform offerings, after discontinuing its Palm and webOS TouchPad in 2011. ”If we have the right product and the right price, the channel still loves HP and they want to sell our products,” Whitman said. “Frankly, having Android products helps a lot.”
Cicsco (NASDAQ:CSCO): Citigroup believes that Cisco shares have enough upside that it could drive them up to $30, and has accordingly kept its shares rated at Buy, with a $26 price target. Citi notes that Cisco’s economic leverage is under-appreciated, and an earnings surprise would bode well for shareholders.
Don’t Miss: Are Apple Displays About to Get Even Better?