4 Tech Stock Stories Worthy of Note on Monday
Facebook Inc. (NASDAQ:FB): Closing price $26.05
According to The New York Times, for more than two years Facebook has been discretely developing a project that is crucial to growing its base of 1.1 billion users, which is moving the social network on to the billions of inexpensive, simple “feature phones” which are still the norm in emerging countries, such as India and Brazil. The company should announce the first results of the initiative fairly soon, which it has named Facebook for Every Phone. Over 100 million persons, or around one out of eight of its mobile users globally, now regularly access the social network from in excess of 3,000 different models of feature phones, with some priced as low as $20.
Apple Inc. (NASDAQ:AAPL): Closing price $426.31
Inside sources at Apple’s suppliers say that the company and its Asian suppliers are evaluating larger screens for iPhones and tablets. Of late, Apple has requested prototype smartphone screens bigger than 4 inches, and also for screen designs for a new tablet measuring slightly under 13 inches diagonally, according to suppliers. The current iPhone 5 features a 4-inch screen, while the iPad has one measuring 9.7-inches.
SAP AG (NYSE:SAP): Closing price $20.53
In 2014, the business management software maker Shttp://www.cheatsheet.com/wp-admin/post.php?post=480322&action=edit&message=10AP will end its dual chief executive structure, with Chief Executive Bill McDermott becoming the only leader, while his company struggles against growing competition during a shift in demand to Internet-based applications. Co-Chief Executive Jim Hagemann Snabe will join the supervisory board following a shareholder vote in May next year, leaving McDermott at the helm, according to SAP after a board meeting Monday.
STMicroelectronics (NYSE:STM): Closing price $20.53
The number one chip maker in Europe announced on Monday that it will invest nearly €2 billion, in conjunction with the government of France, to create a new line of microprocessors for smartphones, TV set-top boxes, and home routers. STMicroelectronics intends to spend €1.3 billion through 2017 on new research and development, and also plans to increase chip production at its factory in Crolles, France, close to Grenoble in the French Alps. France and Italy hold an aggregate 27.5 percent interest in the firm, making them the company’s largest shareholders.
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