Technology Investing: Google’s Trifecta, Semiconductors Get Chipped
This week huge investors are watching how the US government deals with Friday’s expiration of the stop-gap bill to keep the US Government running and how high Oil (NYSE:USO) can go. But that doesn’t mean tech (NASDAQ:QQQ) will stand still!
Here’s your Cheat Sheet to top business developments at the most widely traded technology companies:
1) Google (NASDAQ:GOOG): The Googlers have a trifecta of news for you today. First, co-founder Larry Page is ready to be called CEO. Today he officially takes over the role and begins his journey to recreate a wave of growth much like Steve Jobs did by reassuming the throne at Apple (NASDAQ:AAPL).
Second, comScore (NASDAQ:SCOR) says last quarter Google’s Android OS has gained 7 points of market share in the US smartphone market. Apple (NASDAQ:AAPL) iPhone market share increased only 0.2 points. However, Research in Motion (NASDAQ:RIMM) lost 4.6 points of market share, Microsoft (NASDAQ:MSFT) lost 1.3 points, and Palm (NYSE:HPQ) lost 1.1 points.
Lastly, Google plans to bid $900 million for Nortel Networks’ patent portfolio in a bankruptcy auction in June. Google shares are down over 1%.
2) Semiconductors (NYSE:SMH): Chip stocks are powering down. The Semiconductor Industry Association said February’s worldwide chip sales pulled back to $25.2 billion from $25.5 billion in January. Those figures don’t include disruptions from the disaster in Japan (NYSE:EWJ). Intel (NASDAQ:INTC), Advanced Micro Devices (NYSE:AMD), Nvidia (NASDAQ:NVDA), and Broadcom (NASDAQ:BRCM) are all trading lower on the news.
Beyond technology, here are Other Stocks Attracting Heavy Investing and Trading Demand today.