Just as tech stocks were starting to rise this week, dismal PC sales reports for the first quarter burst the very short-lived bubble, causing shares of IT companies to fall back to earth Thursday.
Taiwanese smartphone maker HTC reported a major decline in its first quarter profit, after the company was forced to push back the launch of its newest flagship phone to April.
Samsung Electronics expects a first-quarter operating profit of between 8.5 trillion won and 8.9 trillion won ($US7.6 billion to $US8 billion), a sharp increase of at least 49 per cent from a year earlier.
In a filing to the U.S. Securities and Exchange Commission on Friday, Dell highlighted the dismal financial straits that led to its plan to take the company private, a move that now has some major shareholders in an uproar.
Though IT trailed other sectors as market indices rose to milestone highs this quarter, some bright spots in earnings and market research reports this week indicate continuing confidence that things will go better for tech this year than in 2012.
Research In Motion Limited, now doing business as BlackBerry, shipped about 1 million BlackBerry Z10 smartphones during its fiscal fourth quarter.
Foxconn's Hon Hai Precision Industry posted record annual profits last year, a sign that production of Apple products remains strong despite heightened competition from rival electronics vendors.
Hewlett-Packard's shareholders have voted to reelect its entire board of directors, despite opposition from investors who want some members held accountable for recent troubles at HP, including its ill-fated acquisition of Autonomy.
Oracle's total revenue dipped 1 per cent and profits remained almost flat in its most recent quarter, as revenue from new software licenses and cloud services dropped by 2 per cent.
Taiwanese PC maker, Acer, reported a net loss in last year's fourth quarter, weighed down by a $US120 million write-off related to its Gateway, eMachines and Packard Bell product brands.
While U.S. markets have surged lately, with the Dow Jones Industrial Average hitting milestone after milestone in 10 straight days of advances, a relatively modest increase in the value of IT company shares reflects the reality that a rising tide wil...
With U.S. markets rallying and the Dow Jones Industrial Average hitting record highs, analysts and industry insiders are expressing a sense of sober confidence, if not exuberance, about the tech sector's prospects for the year.
Even though PC giants Hewlett-Packard and Dell reported significant year-over-year sales declines, tech stocks, buoyed by signs of confidence from other IT vendors, started to rise again Friday after slumping for most of the week.
Hewlett-Packard's CEO has dismissed persistent rumours that the company might break itself up in a move that could create more value for shareholders.
Hewlett-Packard reported a drop in profit for the last quarter as printer and PC sales both declined, but said cost-cutting measures the company announced last year are starting to pay off.
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