Safe to say that the mood of last week, with its anticipation of change, is a distant memory. A different kind of anticipation permeated the tech and online media industries, one more reminiscent of April 2001. There was news all around of layoffs, pending layoffs, bankruptcies and stock dives.
With $25 billion in cash and short-term securities stored away on its balance sheet, Apple is in a uniquely comfortable position from which to weather the econaclypse. And perhaps a uniquely opportunistic one, as well. According to CEO Steve Jobs, anyway. To wit: Jobs’s comments Tuesday about Apple’s cash reserves what it might do with them.
What a lousy day to report earnings. The Dow fell 231.77 points, or 2.5 percent, to finish at 9,033.66, and Nasdaq dropped 73.35 points, or 4.1 percent, to finish at 1,696.68, in a market that beat most tech issues into bloody submission. Not the sort of jovial earnings report atmosphere you hope for when you’re a company whose share price has lost half its value since the beginning of the year. But lo and behold! When Apple reported quarterly results today, they were good … very good.
“We are preconfigured for the downturn.” Sun CEO Jon Schwartz said that about a week ago. And it appears he was entirely correct. The econaclypse is weighing heavy on Sun Microsystems. It business sullied by the financial crisis, the company warned of a much larger-than-expected quarterly loss on lower revenue after market close Monday afternoon.
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.
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.
Includes “Pigs in a Polka,” “Rabbit of Seville” and, of course, “What’s Opera, Doc?”
Take the famous ballads and duets of West Side Story, insert a dozen mentions of famous social media sites like twitter and facebook, and this is what you get.
An iPod mini rebuilt with a wooden case
Star Wars meets Magnum, P.I.
Music videos recreated with new lyrics based on what’s actually happening in them. Daydream Believer and Total Eclipse of the Heart are particularly good.
In response to numerous e-mails, I have no idea what planet the giant alien creature is from. Judging from its enormous gills, I’d have to guess it’s from a watery planet. Reminder: please let me know if you plan to be in the office on Memorial Day so I can request HVAC for your floor.
For those of you who mock the wolf shirt beware. There is an old Navajo story about a young man who made fun of another man for wearing a wolf trio shirt. Legend has it that in his sleep, the wolves on the other man’s shirt came to life and tore his body to shreds. They never found any part of that man’s body. The Wolf is something to be respected and feared, not treated like a novelty.
Hands down the most inexplicably bizarre game for Wii I’ve ever seen
Yo mama is so attractive she could be on the cover of Prevention.
The inspiration for this project was to determine who could generate the worst flatulence measurable in a personally unbiased manner.
D is unlike any other executive conference. Since its debut in 2003, D has brought to life the energy and excitement of the digital revolution in an unscripted, upfront and unparalleled way. Read more »
Don't miss a post! Sign up for our Daily Email and get AllThingsD.com delivered each day.
