The Hottest Tech Stories Investors Must Know From Last Week

Here’s your Cheat Sheet to this week’s top tech industry business headlines:

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Google (NASDAQ:GOOG): Current price $880.23

Chief Executive Elon Musk who leads Tesla Motors (NASDAQ:TSLA), says that his company is looking at adding driverless tech to its vehicles, and is discussing the possibilities for such systems with Google. Musk commented that technologies that can take over for drivers constitute a logical phase in the evolution of automobiles. He has talked with Google about the self-driving technology it’s been developing, although he would rather think of applications that are closer to an airplane’s autopilot system. In an interview, Musk remarked, “I like the word autopilot more than I like the word self- driving. Self-driving sounds like it’s going to do something you don’t want it to do. Autopilot is a good thing to have in planes, and we should have it in cars.”

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GOOG

Apple (NASDAQ:AAPL): Current price $452.97

The hedge fund manager David Einhorn announced that he has raised his bet on Apple, and that the firm made a “major step forward” by issuing debt so that it could return cash to investors. Additionally, Einhorn expects more innovations from the technology firm, according to a conference call Tuesday held by his Greenlight Capital reinsurer. Meanwhile, Apple Chief Executive Tim Cook announced the biggest stock buyback program in history in April, during escalating pressure from Einhorn and other investors to return more cash to shareholders.

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AAPL

EMC Corporation (NYSE:EMC): Current price $23.33

The storage and software major EMC and its subsidiary VMware (NYSE:VMW) intend to slash approximately 1,800 posts worldwide. EMC will remove positions in its Information Storage, RSA Information Security, and Information Intelligence units, and its workforce changes are projected to cost the firm $80 million. The move was indicated in EMC’s most recent 10-Q filing with the U.S. Securities and Exchange Commission, which read: “In the first quarter of 2013, EMC implemented restructuring programs to create further operational efficiencies which will result in a workforce reduction of 1,004 positions.”

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EMC

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