3 Tech Titans Making Noise: Tepper on Apple, Nokia’s Metal Lumia, and Loeb’s Proposition for Sony
Apple (NASDAQ:AAPL): Hedge Fund manager David Tepper remains bullish on the stock market in general, but has some reservations when it comes to Cupertino’s best. The company needs to “do something,” he says, whether it’s a cheap iPhone or bigger screen, if the company doesn’t have something “revolutionary” coming, it had better do something “evolutionary.” If there’s nothing by September, Tepper will have his finger on the sell button.
Nokia (NYSE:NOK): Nokia has officially torn the veil off its new Lumia 925, an aluminium framed successor to the 920 and 928, that is aimed at the global smartphone market. The biggest improvement is the weight savings, as the new handset weighs roughly 50 grams less than the 920, and about 30 grams less than the 928. The phone will be hitting T-Mobile (NYSE:TMUS) here in the U.S., where it could go for around $100 — maybe less — after subsidies.
Sony Corp. (NYSE:SNE): Shares of Sony are rallying after billionaire hedge fund manager Daniel Loeb pressured the company to spin off its entertainment division, which is a leading player in Hollywood and has produced some of the largest pop stars and blockbuster movies. Sony responded by saying that the entertainment division is one of the most valuable revenue streams for the company, and is not meant for sale.
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