Stocks quoted in this article:
Tech stocks have taken center stage even more so than usual this week, as the group paced the broad-market decline on Monday. Furthermore, the tech-rich Nasdaq Composite (COMP) is struggling to keep up with its peers in afternoon trading, and is the lone major market index set to finish March in the red. Against this backdrop, we decided to take a glance at what some of the tech titans have been up to lately.
- Apple Inc. (NASDAQ:AAPL) -- probably the most notable Silicon Valley resident -- is reportedly in talks with Comcast Corporation (NASDAQ:CMCSA) to give Netflix, Inc. (NASDAQ:NFLX) a run for its money, with the duo considering teaming up for a streaming TV service. Elsewhere, fanboys are already gearing up for the iPhone 6, which isn't expected for release until later this year, as well as the still-unofficial iWatch. (USA Today; Huffington Post; Forbes)
- Cisco Systems, Inc. (NASDAQ:CSCO) is tossing its hat into the cloud computing ring. The firm said it will spend about $1 billion over the next two years to run Cisco Cloud Services. (Reuters)
- Facebook Inc (NASDAQ:FB) won't apologize for poaching tech talent. The company reportedly cold-called several Google Inc (NASDAQ:GOOG) employees back in early 2008, and refused to make nice with its sector peer. Separately, Facebook answered businesses' questions regarding the new Pages format, which will continue to roll out over the next few weeks. (TechCrunch; Facebook)
- Speaking of GOOG, the company struck a deal with Italian eyewear maker Luxottica Group SpA (ADR) (NYSE:LUX) to develop and distribute Google Glass. The hi-tech specs are expected to hit the mainstream market sometime next year. (The Wall Street Journal)
- Finally, Turkish Prime Minister Tayyip Erdogan banned the use of Twitter Inc (NYSE:TWTR) ahead of key elections on Sunday, sparking a massive wave of VPN downloads in the country. Meanwhile, new third-party data suggests only 13% of existing Twitter accounts have tweeted in the last 30 days.(MarketWatch; MSN Money)