Tech stocks are having another rough day with chip makers extending a three-session slide and many of the biggest tech and Internet names adding to Monday’s losses.
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Apple shares dropped close to bear market territory on Monday on concern consumers are no longer clamouring for its cornerstone product, the iPhone.
Is the rout ripping through technology stocks just another garden variety correction? In the long sweep of history, yes. But compared only to selloffs since the bull market began, it’s starting to get extreme.
Mark Zuckerberg’s fortune has tumbled by $17.4-billion so far this year as Facebook faces fresh criticism over its treatment of critics and continues to grapple with the fallout from its response to Russian election meddling.
The battery boom is coming to China, California and basically everywhere else – and it will be even bigger than previously thought.
The bad news keeps piling up for Apple ahead of the crucial holiday season.
Tencent Holdings posted earnings that surpassed all analyst estimates as one-time gains and advertising demand limited the impact of a government clampdown on its lucrative games business.
Ripple Labs is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, CEO Brad Garlinghouse said.
SAP, Europe’s biggest technology company, has agreed to buy Qualtrics International for $8-billion in cash, preempting the US enterprise software company’s plans to go public.
Volkswagen plans to add a subcompact crossover costing about €18 000 (R290 000) to its all-electric I.D. range, expanding its lineup of zero-emissions vehicles that are more affordable than those of Tesla.