Key Tech Sector Updates for the Week Ended June 23, 2017

Tech region keeps outperforming broader markets
Technology stocks (QQQ) rose a combined 2.3% in the week ended June 23, 2017, after three weeks of negative returns. The S&P 500 Index rose simply 0.2% in the same length.

Oracle (ORCL), BlackBerry (BBRY), Red Hat (RHT), and Accenture (ACN) all said profits inside the week. Micron Technology (MU) is the handiest era organization of observing on the way to announce its income results in the coming week.

Top gainers for the week ended June 23
Advanced Micro Devices (AMD) became the largest gainer in the generation region in the week ended June 23. AMD shares rose a jaw-losing 23.Nine% in the week, possibly because of the result of the launch of its new high-performance processors.

Red Hat shares rose 13.2% the ultimate week. The software program enterprise’s shares soared after its income beat estimates. It additionally provided robust steering for economic 2Q17.

Oracle shares rose thirteen.Zero% the closing week after the organization beat earnings expectancies. Meanwhile, BlackBerry shares were the biggest losers of the technology zone in the week, falling 7.5%. The company’s stocks plummeted on June 23 after it published a big fall in its quarterly sales.

Comcast (CMCSA) stocks fell 4.Three% inside the week ended June 23 after influential media analyst Craig Moffett downgraded the cable sector to a “neutral” score.

Accenture shares fell 3.Eight% in the week after the business consulting corporation trimmed its margin outlook, however, said financial 3Q17 income that met expectations.

Blackberry keeps shifting recognition to software program business
BlackBerry published a steep fall in its quarterly sales as it persevered to shift its recognition to its growing software enterprise. Its economic 1Q18 sales fell forty-one%, to $235 million, as compared to $400 million in monetary 1Q17. The Canadian software program and device company stated profits of $671 million, or $1.23 according to proportion, in its economic 1Q18. A year in advance, the agency noticed profits fall of $670 million.

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Oracle earnings beat analysts’ estimates
Oracle released its monetary 4Q17 consequences on June 21. The worldwide PC generation corporation suggested EPS (profits in step with percentage) of $zero.89, an upward push of almost nine.Nine% yr-over-12 months (or YoY), beating analysts’ expectancies by means of $0.11. Its revenue came in at $10.9 billion, a 2.Eight% upward push on a YoY basis.

Google to promote robot-making groups
Alphabet (GOOG) is promoting its robot-making businesses for an undisclosed amount. The consumer is SoftBank, which has shown hobby in robots and AI (synthetic intelligence) era.

The robotics businesses are Boston Dynamics and Schaft. The latter is primarily based in Tokyo and is a spin-off of the University of Tokyo.

Facebook and Snap to show unique content material on their respective systems
Time Warner (TWX) announced that it might be investing $one hundred million in Snapchat (SNAP). The media large will offer Snapchat with around ten original shows in keeping with yr for the following two years. This comes at a time when Snapchat’s download fee is falling. The deal may want to cause a higher download rate for the app.

Facebook (FB) is also talking to Hollywood studios and agencies about producing shows that allow you to release original programming on its personal platforms inclusive of Instagram.

Apple-Qualcomm prison war keeps
Apple (AAPL) extended its protracted felony combat in opposition to Qualcomm (QCOM) on June 20, arguing that Qualcomm’s commercial enterprise model violates patent regulation and that a number of its patents are invalid.

AMD to offer Intel a run for its money in the server chip phase
Advanced Micro Devices launched its new technology of excessive-overall performance processors for data centers on June 20 in a bid to force its way returned into the records center computing engine market, that’s currently ruled by means of Intel (INTC). As we stated above, AMD shares soared 23% remaining week.

 

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