Tech Recap: Samsung & Apple STING Rivals, LinkedIn Moves UP
Samsung (SSNLF.PK), Apple Inc. (NASDAQ:AAPL), and certain Chinese phone vendors are impacting their rivals in a most negative way. HTC set new 52-week lows in Taipei following its third quarter guidance for revenue sliding to between $2.34 billion and $2.67 billion from the second quarter’s $3.04 billion, despite growth in the smartphone market. Meanwhile, Goldman downgrades Nokia Corporation (NYSE:NOK) to Sell on competition worries, though its shares have moved up on Friday.
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Facebook (NASDAQ:FB) shares are recovering Friday, but LinkedIn (NYSE:LNKD) stocks are jumping. The latter’s booming job listings division drove a second quarter sales beat and guidance raise, and the firm is less dependent on ads, which comprise 28 percent of its revenue, than is Facebook. These figures make the threat from mobile devices far more benign for LinkedIn.
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