Apple, RIM, Microsoft: Tech Premarket
At the Consumer Electronics Show (CES) this week, Deutsche Telekom CEO John Legere told Reuters that a T-Mobile USA iPhone will be available within the next three to four months. Rumors also continue to swirl about a cheaper iPhone.
Shares of Apple rose 2.39% to $529.44 before market open. The Cupertino, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 467,735.
Shares of the embattled Canadian handset maker, which have plunged more than 25% over the last 12 months, rose 3.31% to $11.87 on share volume of 209,302 amid news reports that Verizon(VZ) , AT&T (T) and T-Mobile will carry BlackBerry 10 smartphones.
Chip design giant ARM(ARMH) was another premarket winner, rising 2.75% to $41.11 on share volume of 170,495.
Facebook(FB) was a more modest gainer, rising 0.39% to $30.71, although the social networker was the most active premarket Nasdaq stock on share volume of 765,554.
Microsoft (MSFT) , however, was a laggard before market open, slipping 0.56% to $26.55. The software maker was downgraded to equal weight by Morgan Stanley on Thursday.
"MSFT is far too cheap, has multiple non PC drivers and an attractive 3.5% dividend yield. However, Win 8 is disappointing, the PC market will remain weak for awhile and margins are likely capped," wrote analyst Adam Holt, in a note. "As such, the stock is likely range-bound and we see better potential in names like Symantec(SYMC) and Oracle( ORCL ) ."
--Written by James Rogers in New York.
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