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NEWS ABOUT: tech industry

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Apple Earnings Soar on Huge iPhone Sales

Company sells 37M as earnings double

(Newser) - Apple's first quarter since the death of Steve Jobs went very, very well: The company reported that net income doubled to a record $13.1 billion from the same period last year, reports MarketWatch . That translates to $13.87 per share, beating by a mile analysts' estimates of about... More »

Google Earnings Disappoint

Shares plunge after rare miss on analysts' estimates

(AP) - What was supposed to be a celebration of the most prosperous quarter in Google's 13-year history instead turned into a major letdown. The disappointment came with today's release of fourth-quarter earnings that showed the Internet search leader fetched less money per click on its ubiquitous online ads. That... More »

Got a Tech Hunch? Use 'Milkshake Test'

Thought exercise helps predict a new technology's popularity

(Newser) - Five years ago, everyone was ready for a Second Life revolution—but the virtual world has largely fizzled. Google and iPods, on the other hand, have lived up to the hype. How do we know when to believe in lofty tech expectations? At Slate , Dan and Chip Heath propose a... More »

HP Will Stick With Computers After All

But what about TouchPad and Web-OS? Stay tuned

(Newser) - The world's biggest PC maker has decided to keep making PCs. New Hewlett-Packard CEO Meg Whitman announced today that the company is backtracking from her ousted predecessor's strategy to spin off the $41 billion computer division and, in the words of Gizmodo , "turn HP into the next... More »

Hewlett-Packard Names Meg Whitman CEO

Leo Apotheker is out at struggling company

(Newser) - Score one for the rumor mill : Hewlett-Packard waited for the markets to close, then named Meg Whitman its new CEO, effective immediately, reports Bloomberg . The former eBay exec, recently off a failed bid to be California governor, will take over for Leo Apotheker, who resigned under pressure after 11 lackluster... More »

HP Kills TouchPad, May Spin Off PCs

Also ends smartphones; part of shift toward business customers

(AP) - In a dramatic reshuffling, Hewlett-Packard said today it will discontinue its tablet computer and smartphone products and may sell or spin off its PC division, bowing out of the consumer businesses. The most apparent result for consumers will be the end of HP's TouchPad tablet and HP-branded smartphones. By... More »

Apple Earnings Nearly Double

Even if iPad sales didn't meet expectations

(AP) - Apple today reported another exceptional quarter, nearly doubling its net income and far exceeding analyst estimates on the strength of the seemingly unstoppable iPhone. However, sales of Apple's big new product, the iPad tablet computer, came in below expectations. The second version of the tablet launched three weeks before... More »

Cisco Shuttering Flip Cameras

Video gizmos were all the rage only two years ago

(Newser) - Flip video cameras were so hot two years ago that Cisco Systems shelled out $590 million to buy the startup that built them. So much for that. Cisco announced today it was shutting down its Flip business, reports the Huffington Post . The easy-to-use gadget had its moment—the Wall Street ... More »

Facebook Fires Manager Over Insider Trading

Employee violated company policy on secondary stock markets: TechCrunch

(Newser) - Facebook gave one of its managers the boot after he violated company policy on insider trading, reports TechCrunch . Former corporate development manager Michael Brown bought company stock in the burgeoning secondary trading market, sources tell the site. Because Facebook is a private company, he apparently didn't violate any federal laws,... More »

Buffett: Beware 'Overpriced' Social Networking Sites

Oracle of Omaha will stick to his usual investments, thank you

(Newser) - Warren Buffett says he's just itching to make another big deal for his beloved Berkshire Hathaway, but you won't catch him frothing over the slew of initial public offerings expected in the tech world, reports Bloomberg . “Most of them will be overpriced,” said Buffett. "It’s extremely... More »

We're in Another Tech Bubble

Analysts: Just look around Silicon Valley for proof

(Newser) - Don't look now, but another tech bubble is upon us. Signs "have been appearing over the last year—seed and late-stage valuations are rapidly inflating, hiring talent in Silicon Valley is the toughest since the last bubble and investors are starting to openly wonder how this one will end,... More »

Eric Schmidt Out as Google CEO—With $334M Payday

Co-founder Larry Page will take over in April

(Newser) - Google made a surprise shuffle at the top today when announcing its quarterly results: Eric Schmidt is stepping down as CEO and will be replaced by co-founder Larry Page, reports MarketWatch . Schmidt will remain with the company as executive chairman, while Page's co-founder, Sergey Brin, will take a bigger role... More »

NYC to Rival Silicon Valley as Tech Start-Up Capital?

Venture capitalist thinks it will be the new tech hub

(Newser) - In an interview in GigaOM , veteran NYC-based venture capitalist Fred Wilson is bullish on New York City as the next major center of technological innovation. He says that Internet companies based in the city are being flooded with venture capital at the same magnitude as Silicon Valley start-ups. More »

Why the Press Loves Apple, Google

Because they're the most interesting companies in tech, that's why

(Newser) - Pew Research recently unveiled a stunningly obvious study concluding that the tech company most written about—and fawned over—by the press was (drum roll, please) Apple. In second place? You guessed it, Google. About 26% of all tech articles are about those two juggernauts. But Farhad Manjoo of Slate... More »

HP Sues Mark Hurd Over Trade Secrets

Execs don't want him to take job at Oracle

(Newser) - The happy little split between between Mark Hurd and Hewlett-Packard takes another turn. HP today sued its newly ousted CEO to prevent him from assuming a top job at rival Oracle. "Mark Hurd agreed to and signed agreements designed to protect HP's trade secrets and confidential information," declares... More »

Rumors of Mini iPad Seem Legit

A 7-inch version for $300? Now that's a hot seller

(Newser) - Tech rumors are always flying around, but one about Apple building an even smaller iPad feels like it has the weight of truth behind it, writes Kit Eaton of Fast Company . First, consider the source: China's Economic Daily News "pretty much nailed the original iPad's format and timing well... More »

Apple Manager Accused of Kickback Scheme

He allegedly gave inside info to suppliers

(Newser) - A little corporate intrigue in Apple land: A midlevel manager is accused of giving Asian suppliers inside info so they could negotiate better deals with the company, reports the San Jose Mercury News . It paid well, too. Paul Shin Devine of Sunnyvale, Calif., is accused of receiving more than $1... More »

Wii Sells 30M in US, Leaves Geeks in Dust

Nintendo has successfully moved gaming into the mainstream

(Newser) - At just under 4 years old, the Wii has already sold 30 million units in the US—and 71 million globally. Nintendo clearly has done much more than just create the fastest-selling video-game console of all time—it's made the first one to be embraced by the mainstream, writes Charlie... More »

13th Worker Attempts Suicide at China Plant

Man survives cutting himself at tech industry supplier

(AP) - A Foxconn Technology worker tried to kill himself today, becoming the 13th person to commit suicide or attempt to do so this year at the company, which makes high-tech products for industry giants such as Apple, Dell, and Hewlett-Packard. Police said the 25-year-old man survived after cutting himself in his... More »

Apple Is Now No. 1 Tech Company

It finally overtakes Bill Gates' baby

(Newser) - A business and tech milestone today: A little after 2:30pm, Apple overtook Microsoft to become the most valued technology company in the world, reports the New York Times . Apple ended the day with a market capitalization worth $222.1 billion, vs. Microsoft's $219.2 billion. Among US companies, Apple... More »

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