Apple Gears Up for WWDC: Tech Weekly
NEW YORK (TheStreet) -- Apple
Apple is expected to launch several new products at the event, including new computers and a new mobile operating system. The tech giant may even mention the company's oft-rumored television set.
Rumors have been flying about what Apple could announce this year, with talk about the iPhone 5 and an Apple television intensifying.
One of the main attractions at WWDC will likely be Apple's next mobile operating system, iOS 6. Among the expected additions is a new map app, Siri support for the iPad, Facebook
Rumors about Apple's new television have swirled seemingly forever, but there have also been rumblings about a new operating system for the existing Apple TV.
"Apple may possibly introduce a new Apple TV OS for the current set-top-box device, we believe it would just be another UI
Shares of Apple gained 3.45% during the week to close at $580.32.
Speaking of Facebook, the IPO continues to be labelled a disaster, as the fallout from the troubled offering continues. On Tuesday NASDAQ OMX Group
The board of the Nasdaq OMX Group has approved a "voluntary accommodations fund" of approximately $40 million. The Securities and Exchange Commission still has to review the proposal, but approximately $13.7 million would be paid in cash to member firms. Original estimates put the payout as high as $100 million, or perhaps greater.
The rest of the money would go toward crediting members to reduce trading costs. The payments are expected to be delivered within six months for the vast majority of firms, the exchange operator said.
Facebook launched its own app store, named App Center, on Thursday. The move represents a clear sign of competition with Apple and Google
Shares of Facebook fell sharply during the week, closing down 2.24% to wind up at $27.10. Nasdaq shares edged higher, closing the week up 3.46% at $22.12.
Buddy Media, which counts Ford
The Buddy Media deal adds a key string to the Salesforce.com social media bow, according to CEO Marc Benioff.
"Salesforce.com now has the number one players in social listening and marketing - Radian6 and Buddy Media," he explained, in a statement. "With CMOs surpassing CIOs in spend on technology within the next five years, our Marketing Cloud leadership will allow us to capitalize on this massive opportunity."
Salesforce will pay approximately $687 million in cash and Salesforce.com equity for Buddy Media. The acquisition is expected to close during the company's fiscal third quarter.
Shares of Salesforce ended the week up 4.2% at $136.49.
The tech giant is touting the ASR 5500 as a key tool to help service providers wrestling with an explosion in Internet connections. Cisco predicts mobile Internet traffic will increase 18-fold by 2016.
Shares of Cisco gained 4.82% to close at $16.73.
LinkedIn director Vincente Silveira explained, on the company blog, that "some of the passwords that were compromised correspond to LinkedIn accounts."
Shares of Linkedin gained 5.19% during the week to close at $96.26.
Next week is a big one, as Apple's WWDC takes center stage in the tech world. I'll be out in California doing a live blog of the event. I'll also be meeting with several other technology companies and will have some exciting things to talk about when I get back. I'll be off the grid most of the week, but fear not, loyal readers, I will return.
Enjoy the weekend everyone.
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-- Written by Chris Ciaccia in New York
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