3 Tech Titans Making Noise: Apple’s China Talks Make Progress, Cisco’s Strong Quarter, and Amazon’s European Opportunity
Apple Inc. (NASDAQ:AAPL): Talks with China Mobile are reportedly coming along nicely. The two companies are working on a partnership that would see China Mobile sell the iPhone and iPad — currently, China Mobile is the only operator in the country that doesn’t have a deal with Apple to sell its devices.
Cisco Systems (NASDAQ:CSCO): Though earnings per share of 52 cents beat by 1 cent and revenue of $12.42 billion also beat by $0.02 billion, Cisco’s shares took a beating in after-hours trading Wednesday and have continued their plunge in pre-market Thursday morning. The company spent a substantial $1.2 billion on buybacks in the fourth quarter, up from the previous quarter’s $860 million. Product sales, which make up 78 percent of revenue, gained 6 percent year over year as services growth fell to 6 percent over the third quarter’s 7 percent.
Amazon.com (NASDAQ:AMZN): Research firm Mintel is predicting online sales in Europe to reach 188 billion euros in five years, a forecast that Amazon will surely benefit from. The firm says Amazon has grown its online market share by 60 bps last year, to 9.8 percent, and should see more gains despite the negative publicity coming from the U.K. and Germany. Should current e-commerce trends hold, Amazon will overtake German firm Schwarz to be the biggest retailer on the European continent in eight years.