The Droid invasion appears to be going according to plan. Motorola’s new Android-based handset arrived at Verizon Wireless stores last Friday and analysts say it’s selling quite well. Indeed, Broadpoint AmTech analyst Mark McKechnie estimates Verizon sold about 100,000 Droids in its first weekend.
With a handful of new Android handsets arriving at market in the coming weeks, including Motorola’s much anticipated Droid, Palm’s prospects for blowout winter holiday sales are dimming. Earlier this week, analysts at Citigroup and CL King voiced their concerns about the company in the wake of another ugly quarter from carrier partner Sprint. Now, Standard & Poor’s is doing so as well.
With Palm’s shares up more than 900 percent since January, they were destined to suffer a correction someday. And now it seems that day has finally come. Shares in the handset maker fell some 23 percent last week amid concerns about increased competition from Google’s Android operating system, which is being rolled out on a number of devices at a variety of carriers, including Palm partner Sprint.
$118.49. That’s the price at which Amazon shares closed Friday, a day after the company reported a 69 percent jump in third-quarter profit and a 28 percent gain in revenue. It was a new 52-week high and the stock’s best since December 1999, when it hit $106.68. Which is saying something. Because as you might recall, in 1999, Nasdaq was soaring on the back of the dot-com bubble to levels never before seen.
“I’d be very surprised if Google did not hit $500 by the end of the year.” Citigroup analyst Mark Mahaney said that just last week, and as it happens he has already been proven right. Earlier today, Google saw its shares cross the $500 threshold, setting a new 52-week high.
What spreads faster than economic gloom and doom, and is more infectious than professional anxiety? That phenomenon known as “25 Things.” Just in time for Facebook’s fifth birthday, the record-breaking waste of time may have reached critical mass this week. Elsewhere this week…
It’s looking more and more like Apple’s next-generation Macbooks will arrive at market in October. In a research note to clients today, Citigroup’s Richard Gardner said channel checks have confirmed that the notebooks are in production.
If misery loves company, then Apple may have a friend in RIM. A Citigroup analyst who has tested the company’s forthcoming BlackBerry Bold claims that the device is troubled by 3G reception woes similar to those plaguing Apple’s new handset. A noteworthy data point, since Bold will initially run on AT&T’s wireless network, just as the iPhone does.
How well is Amazon’s Kindle electronic book reader really doing? Well, according to Citigroup’s Mark Mahaney, whose analytical prowess enables him to extrapolate sales figures from little more than Kindle’s sales ranking on Amazon’s Web site and from the number of customer reviews it has received, the Kindle is doing quite well. But according McAdams Wright Ragen analyst Tim Bueneman, who’s actually, you know, spoken with some Amazon officials, it might not be selling as well as Mahaney claims.
Amazon’s Kindle e-book reader may not be the iPod of the book world yet. But it will be some day if Citigroup research analyst Mark Mahaney has anything to say about it. In a report to clients Monday, Mahaney, who in May predicted the device would generate $750 million for Amazon by 2010, said the company could be on track to sell as many as 380,000 Kindles this year.
OK. So maybe Amazon’s Kindle isn’t ‘the Zune of reading.‘ Certainly, that’s the impression given by CitiGroup analyst Mark Mahaney’s prediction that the e-book reader will generate three-quarters of a billion dollars for Amazon by 2010.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size.
11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
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