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Finance

Apple officially owns Intel mobile modem business

Published on 12/03/2019 @ 8 AM EST

In a press release from Intel, Apple has officially completed the sale of Intel’s smartphone modem business for $1 billion. The tech brand will be able to develop its own components for smartphones, tablets, and other devices, rather than relying on vendors such as Qualcomm.

Huawei reports increased Q3 sales

Published on 10/16/2019 @ 9 AM EST

Even with sanctions in place in the US, Huawei’s third-quarter revenue increased by 24.4% compared to Q3 2018. The brand also shared they have shipped over 185 million smartphone devices so far in 2019.

Fitbit considers selling

Published on 09/23/2019 @ 10 AM EST

With a possibility of working with investment bank Qatalyst Partners, Fitbit may consider Alphabet, Google’s parent company, for the acquisition. While they have increased its revenue year after year, the company does expect up to $50 million less this year.

Tesla has lost $1B so far in 2019

Published on 07/27/2019 @ 1 AM EST

In addition to the $702 million loss last quarter, they’ve announced a loss of $408 million this quarter. Elon Musk says there’s “too much to focus on” but “the future is, fundamentally, the Model 3 and Model Y."

Slack files to go public

Published on 04/28/2019 @ 1 AM EST

Using a direct listing to bypass the usual IPO process, Slack is listing its shares directly on the NYSE with the symbol SK. They were last valued at $7 billion.

Uber (finally) files for IPO

Published on 04/13/2019 @ 1 AM EST

Filing their S-1, Uber is looking to go public next month, a much-anticipated event for the brand. It’s reported they’re looking to sell $10 billion worth of stock. Uber rival Lyft went public last month.