Apple Has The Cash But Wall Street Is Not Convinced

Every week, Cupertino makes news with technology developments, discoveries and sometimes controversies.

Today, Cupertino Patch brings you Tech News Update, where we’ll relay the past week’s news highlights from our backyard giants, start-ups and small businesses alike.

Apple

Tech giant, Apple reported $137 billion in cash reserves. And that’s enough cash to pay off the national debts of New Zealand, Kenya, Nigeria, Jamaica, Cuba, Egypt, Vietnam, and Singapore, according to VentureBeat. The company’s first quarter results have been impressive, with record quarterly revenue of $54.5 billion, and profit of $13.1 billion.

However, the astounding results don’t seem to be ringing a bell at Wall Street. The Apple stock came crashing down and dropped below the $500 mark despite its record quarter, as investors fear slowing consumer demand for its products, particularly iPhones. The shares have plunged more than 36 percent from its 52-week high of $705 in September, 2012. Apple's stock has dropped in value by nearly $230 billion, with its valuation slipping to $424 billion, in just four months.

Trend Micro

Security report from cloud security provider, Trend Micro, released Wednesday, Jan. 23, indicates that the cybercriminal has moved beyond the PC. Android, social media, and Mac OS X are the new targets. The company detected 350,000 threats facing Android, the relatively new mobile platform in 2012, and predicts this number rising to 1 million in 2013. Apparently it took Android only three years to achieve the volume of malware threats that the PC achieved in 14 years.

Ensighten

Tag management company, Ensighten partnered with England-based web analytics provider, SessionCam to enhance its offering. With Ensighten’s cloud-based tag network, adding SessionCam to a website is said to be easier.

Cupertino Electric

Cupertino Electric electrified the new 49ers’ stadium with an incredible 500 miles of low-wattage fiber optic cable, and 16,000 lighting fixtures. Check out more cool statistics from the NFL project here.