3 Tech Titans Making Noise: Apple’s iPhone Release, Sony Responds to Loeb, Microsoft’s Big Meeting
Apple Inc. (NASDAQ:AAPL): All eyes are on Apple as the iPhone 5S and iPhone 5C hit stores today in 10 countries, including Australia, Japan, the U.K., the U.S., and China. Shares of Apple have recovered some of the losses incurred since the phone’s announcement. The company’s U.S. online store are now pointing to a wait of 7-10 business days for shipping, for space gray and silver 5S models. Gold models won’t ship until some point in October.
Sony Corp. (NYSE:SNE): Though Third Point Capital’s Daniel Loeb didn’t get exactly what he wanted when Sony refused to spinoff its entertainment division, it seems he touched a nerve in the process. Sony CEO Kazuo Hirai said that Loeb’s campaign was actually beneficial for the company, and while he maintained that Sony is better off holding on to all of its movie and music businesses, “Dan Loeb and Third Point shed a light on the entertainment properties that we’ve been trying to shed a light on for the longest time.” Hirai added that, “Profit margins at the entertainment arm should be higher, and Sony Pictures should refine its process for approving movies.”
Microsoft Corp. (NASDAQ:MSFT): For those hoping that Microsoft’s next CEO would be announced at Thursday’s annual analyst meeting, new CFO Amy Hood quelled those hopes right off the bat. ”There will be no update on [the CEO search] today,” she said. Regardless of who takes the helm, Microsoft will continue reporting the financial performance of five business segments, only it will look a lot different than its current five (Windows, Office, Server & Tools, Online Services, Entertainment & Devices). Three of the new segments will fall under “Devices & Consumer,” while two other segments fall under the “Commercial” flag.
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