Apple, Google, HP: Tech Winners & Losers
NEW YORK (TheStreet) -- Nielsen reported that two-thirds of new mobile buyers are now opting for smartphones driving Apple(AAPL) and Google(GOOG) up on Friday. Apple shares climbed a modest 0.64% to $602.74 and Google 0.32% to $572.32.
"Android continues to lead the smartphone market in the U.S., with a majority of smartphone owners (51.8%) using an Android OS handset. Over a third (34.3%) of smartphone owners use an Apple iPhone, and Blackberry owners represented another 8.1 percent of the smartphone market," the survey said.
In related news, Google's CEO Larry Page was in the office on Monday after missing several of the company's biggest public events due to an unspecified illness, according to Reuters.
JP Morgan analyst Mark Moskowitz reiterated his "underweight" rating and $22 price target on HP(HPQ) . "The company's revenue and earnings growth profiles stand to be under pressure in the near term, owing to company-specific issues, macroeconomic challenges, and the ill-effects of currency fluctuations," Moskowitz wrote in a note to clients on Friday.
HP shares fell 2.17% to $18.93 in Friday's trade. It is down 26.51% year-to-date.
Less than a week before the the Finland-based phone maker reports its second quarter earnings, Alliance Bernstein analyst Pierre Ferragu lowered his price target of the company from 1.50 Euros to 1.20 Euros. He maintained his "underweight" rating.
"We expect Nokia to report a net loss, in line with consensus and the company's recent warning. We expect 10.5m Smartphone shipments and 69.5m feature phone shipments adding up to Device and Service's revenues of 3.7bn, and an operating loss of 7%. Overall, we expect group revenues at 7.4bn and a net loss of approximately 9 cents, in line with consensus," he wrote in a note to clients on Friday.
"We do not rule out more disappointing numbers -- RIM recently proved things can deteriorate fast and drive disappointment even weeks after a profit warning," he added.
--Written by Nathalie Pierrepont in New York.