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View Diary: Overnight News Digest -- "What's That You Say?" Edition (30 comments)

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  •  Apple Shares Continue To Tumble (14+ / 0-)

    From USA Today: Apple price targets slashed after bubble bursts

    The favorite pastime of Apple analysts has turned into "how low can it go?"

    Last year, Wall Street analysts loved Apple stock so much they raced to bump up price targets as shares surged to their $700-a-share peak. But now with the stock in free fall, analysts can't seem to take their price targets down fast enough.

    Following Apple's report of weaker-than-expected revenue and slackening demand for its gadgets as it loses the innovative edge, the shares collapsed $63.51, or 12%, to $450.50 Thursday. It's the latest in what's been a major deflation of a one-stock bubble, falling 36% from its high in September.

    From the Wall Street Journal: The Fight to Unseat Apple's iPhone Intensifies

    The iPhone ended the year with a blowout quarter in the U.S. market. But underneath the big numbers at the largest U.S. carriers are signs Apple Inc. faces a rapidly changing marketplace that could erode its dominance.

    AT&T Inc. said Thursday it activated 8.6 million iPhones in the fourth quarter, while selling a total of 10.2 million smartphones. The popularity of the iPhone at the No. 2 carrier echoed a report this week from market leader Verizon Wireless, which said about two-thirds of the 9.8 million smartphones it activated in the fourth quarter were Apple devices.

    Those results support recent surveys that show the iPhone remains the country's most popular smartphone. But Apple may have to do more to persuade shoppers to buy its priciest models.

    Verizon reported Tuesday that more than half of the iPhones the company sold in the fourth quarter were older models that sell at deep discounts. Dane Scism, a Verizon dealer with nearly 600 stores around the country, said many of his customers settled for the iPhone 4 and iPhone 4S, because they didn't see a value in paying up for the iPhone 5's faster cellular connection—one of the new device's marquee features.

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