Tech Biz Review: Zynga Slammed, Apple Lacks Investor Attention
Shares of Zynga (NASDAQ:ZNGA) were halted and resumed twice, and are decidedly lower. The cause is likely disappointment that Facebook’s big day hasn’t so far equaled (some) expectations.
Investing Insights: Facebook Plows Zynga Shares.
On Thursday, Apple (NASDAQ:AAPL) was in the dumps, as speculation over Facebook’s IPO was taking all the oxygen out of the room, but shares of the former are up modestly on Friday, after a series of selloffs. A bullish comment from Morgan Stanley’s Katy Huberty, forecasting that average U.S. household spending on Apple gear will rise from $444 in 2011 to $635 in 2013, and possibly hit $888 in 2015, hasn’t exactly hurt. Also, BMO had heard chatter that carriers cutting iPhone subsidies would be harder to do than would be expected.
Dish Networks (NASDAQ:DISH) informs the FCC that an intro of its 4G LTE network should not be expected until 2016 or later, which is a year later than the agency has proposed. The delay could add to pressures it is experiencing to divest the spectrum, and might add to the speculation that the firm is bluffing regarding its 4G investment plans.
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