Apple's annual developer conference kicks off in San Jose. CEO Tim Cook and execs focused on setting "app limits" to stop uncontrolled binging of phone usage, vowed to fight data companies' "fingerprinting" of people's computers, and said the company does not intend to merge its Mac computer software and iPhone and iPad software, though it will bring some commonalities to the platforms next year.
From "Infiniti Screens" to an Apple Watch with a magnetic grip, we suggest ideas for Apple's developer conference that we'd like to see but probably won't.
Microsoft is buying GitHub, the "repository" for open-source software, for $7.5 billion in stock, Apple's about to kick off its annual developer-fest, Fitbit said it sold over a million of its "Versa" smartwatch since April, MongoDB should have a nice earnings report on Wednesday according to Needham & Co., Amazon's private label sales of goods is a highly under-appreciated asset according to Youssef Squali of SunTrust, and Cisco can benefit from the rise of multiple cloud computing operations according to Cowen.
Tesla shares sagged after the bell even though it vowed to be profitable next quarter, Spotify and Square were dogs of the afternoon on weak forecasts, Tableau Software surged as it said it increased its buyback war chest, and chip maker Qorvo was higher despite being caught in the soggy smartphone market.
Fitbit shares rose in late trading despite its forecast for this quarter's revenue and profit missing expectations.
Twitter soars as its results comfortably beat expectations and management says changes to its app are raising engagement, Apple should offer its iCloud for enterprise customers, is a suggestion by Barclays's Mark Moskowitz, the NYSE welcomes Chinese wearables manufacturer Huami, but its IPO fizzles, Infinera and NXP rise on their earnings reports, but Yelp and Inphi fall hard.
Alex Lidow, pioneer in power semiconductors, shows how a novel antenna design could create surfaces capable of delivering hundreds of watts of power to multiple devices for wireless charging.
Fitbit has squandered its opportunities, failing to inspire new consumer interest and failing to develop a business with the healthcare companies, writes Stifel analyst Jim Duffy, and things won't get better in 2018, he predicts, as he cuts the stock to Sell from Hold.
Two weeks of not carrying an iPhone and using Apple's Apple Watch shows the promise of the smartwatch as a standalone communications device. But better battery life and improved cellular is needed for it to truly operate on its own reliably.
Shares of wearables pioneer Fitbit declined in late trading, despite better-than-expected quarterly results and outlook, as its sales of devices dropped by almost a third from the prior year.
Fitbit shares surged in late trading after it topped analysts' expectations, and said it would be at least in line with Wall Street's estimates this quarter, and raised the low end of its forecast for the full year, saying its production of a new smartwatch is ahead of schedule.
Fitbit's sales have struggled as the company failed to enhance fitness functions beyond basic step-counting. The expected debut of a general smartwatch from the company later this year will be a critical test of its ability to hold its own against Apple and Garmin, says Morgan Stanley.
Aegis Capital's Victor Anthony took an informal poll of a bunch of millennials and found they don't seem to be especially interested in "Spectacles," the glasses from Snap that can send short videos of what you're looking at. That could have an impact on Snap's revenue, he says.
As Apple sweats out the summer months in advance of the debut of what most presume will be the next iPhone, the products taking center stage are its peripherals, in particular its Apple Watch and AirPods, says Raymond James, and the forthcoming HomePod wireless speaker.
Apple unveiled its long-awaited competitor to Amazon's "Echo," called "HomePod," a speaker with newly engineered audio technologies and Apple's own processor, and the ability to respond to spoken commands and to control home automation technologies. The company also unveiled new iMac computers, MacBook laptops, new iPads, and updates to its MacOS, iOS, and WatchOS.
Analysts Charles Anderson of Dougherty & Co. writes that his observation of search trends on Google for Fitbit suggest a steep decline in interest in the product from a year ago, although the drop was a little less bad in May than it had been in April.
Analysts were heartened by Fitbit's Q1 beat on revenue and profit, and its remarks that it has been working down inventory of its fitness trackers, cleaning the way for new models later this year. The stock surged 14%. But the expectation of both bulls and bears is that what really matters is the unveiling of its first smartwatch, later this year, about which the company gave few details.
FitBit stock surged in late trading as it beat expectations for revenue and profit in the March-ending quarter, and forecast full-year revenue higher than consensus, even though its outlook for Q2 is a little lighter than expectations. CEO James Park was upbeat about the company's progress in reducing a build-up in inventory of FitBit products.
Shares of chip maker Integrated Device Technology, which is known for powering wireless charging of gadgets such as Apple's Apple Watch, initially enjoyed a nice bounce in late trading, after the company slightly beat fiscal Q4, but the outlook and remarks offered on the call later caused the shares to give up their gains.
Here are some things going on today in your world of tech: Shares of Verizon Communications (VZ) are down 87 cents, or 1.8%, at $48.07 after the company this morning reported Q1 revenue of $29.8 billion and EPS of 95 cents, missing consensus for $30.4 billion and 96 cents. Wireless revenue in the quarter dropped 5%, the company said, amidst “continued promotional activity." Shares of Apple (AAPL) are up $1.02, or 0.7%, at $141.70, after a report by DigiTimes’s Cage Chao and Jessie Shen yesterday suggested the company has put in orders for parts for the next iPhone(s) in excess of 50 million units per quarter, citing multiple unnamed industry sources.