In November of last year, Snapchat, the popular “disappearing” photo-sharing app, turned down a $3 billion all-cash buyout offer from Mark Zuckerberg’s Facebook (FB). Evan Spiegel, the CEO of Snapchat who would have personally received about $750 million from Facebook, inexplicably stated, “I think trading for some short-term gain isn’t very interesting.”
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Momentum Investing
Technology stocks, once the darlings of Wall Street, are now facing intense investor scrutiny. Over the last three months, key tech stocks, such as Twitter (TWTR), Netflix (NFLX), and Amazon (AMZN), experienced significant declines in their stock prices. Twitter is down more than 44%, Netflix is down nearly 20%, and Amazon is down about 17% (all since March).
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Beats By Apple
In case you’ve been living under a rock for the past week, or studying for finals, you should know Apple (AAPL) is currently pursuing a deal to acquire Beats Headphones. Made iconic by celebrity co-founder Dr. Dre, and countless athletes, Beats headphones have become a popular consumer device among young Americans. If the deal were to go through, Apple would spend $3 billion of its cash reserves.
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SanDisk Poised For Growth
Last Thursday, SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, hit a historically high share price of $90.46 per share. The company’s stock is up 25.94% year-to-date and 55.23% over the last 12 months. In addition, SanDisk recently beat analyst earnings expectations for the fourth consecutive quarter, announcing an actual EPS of $1.31 compared to the consensus EPS forecast of $1.17.
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Two Tech Titans Clash
Last Friday, May 2, a California court ruled in Apple’s favor during an ongoing (and ridiculous) patent lawsuit against South Korean tech giant Samsung. The case, brought by Apple (APPL), accused Samsung of four patent infringement violations. After the courts deemed Samsung had knowingly violated U.S. Antitrust laws, Apple was awarded $119.6 million in damages - a fraction of the $2.2 billion they sought.
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The Largest IPO In History?
China’s many decades of growth and development have resulted in its gradual transition from an emerging economy, centered around manufacturing, to a developing economy, focused on services and consumerism. According to Bloomberg.com, last year was the first time China’s electronics industry outpaced the steel sector (a big deal).
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Drunken Protection
Have you ever stumbled back to your dorm drunk, with one shoe on, both socks missing, someone’s hat on your head, and marker covering your face? Have you ever witnessed a drunk and sloppy friend embark on his homeward adventure, concerned, and eager to call him later to ensure he arrived safely?
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