3 Tech Titans Making Noise: Apple’s New VP, Microsoft’s Positive Outlook, Amazon Gets Cozy with P&G
Apple Inc. (NASDAQ:AAPL): Apple has named Angela Ahrendts, currently the CEO of British luxury company Burberry, to fill the newly created position of senior vice president of retail and online stores; Ahrendts is scheduled to join in the spring. Apple has not had a retail leader since John Browett left the company a year ago, while CEO Tim Cook has filled the gap as needed since.
Microsoft Corp. (NASDAQ:MSFT): Jefferies analyst Ross MacMillan struck a bullish tone on Microsoft on Tuesday, noting that “the stage is set for a series of value creating events to unfold over the next 18 months,” which led the firm to slap a Buy rating on the company and up its price target to $42 from $33. A new operating structure with greater transparency was cited as one of the events, while MacMillan sees the potential for better portfolio focus: which assets should remain as core and what should be viewed as non-core, etc.
Amazon.com Inc. (NASDAQ:AMZN): Amazon said that it has placed employees inside warehouses belonging to Proctor & Gamble (NYSE:PG), where the online retailer will ship P&G’s staple consumer products directly from its own warehouses. Amazon’s relationship with P&G has existed for about three years under the Vendor Flex program, which allows Amazon to cut the costs of shipping and storing goods and better compete on prices.