3 Tech Stock Stories Making Thursday Headlines

Apple Inc. (NASDAQ:AAPL): Closing price $497.91

It was reported Thursday that Apple’s most recent operating system for iPhones and iPads — called iOS 7 — is currently being put through an intensive testing process. BGR is supplying an almost exact timeframe of when it can be expected that iOS 7 will become available to the mass market, as it said that, “After iOS 7 beta 6, Apple will be seeding a GM (gold master) version for its employees and partners to test starting around September 5. This will mostly likely be the software that is released to the public later on in the month of September, barring any major bugs or problems that might be discovered.”

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Avago Technologies Ltd. (NASDAQ:AVGO): Closing price $36.02

Shares of the wireless chip manufacturer Avago Technologies closed down more than 3 percent on the day, after analyst Mike Burton at Brean Capital downgraded  the shares from Buy to Hold and removed his $43 price target, writing that the firm faces headwind in a slowdown in mobile devices at Samsung Electronics, and new problems at Cisco Systems, considering the latter’s lower-than-anticipated outlook Wednesday night. Burton believes that the new range for the stock on fair value basis is between $36 and $40.

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SINA Corp. (NASDAQ:SINA): Closing price $79.21

SINA has posted a second-quarter loss of 26 cents per share, including stock-based compensation, which was far wider than the Zacks Consensus Estimate of a loss of 1 cent per share. However, revenues soared by 20.4 percent year-over-year to $152.8 million and were much higher than management’s guided range of $143 million to $147 million, exceeding the Zacks Consensus Estimate of $150 million. The year-over-year growth in revenues was primarily generated by higher advertising together with non-advertising revenues. Advertising revenues in the quarter moved up by 16.9 percent from the 2012 quarter to $120.6 million.

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