Facebook's Fresh Face: Tech Weekly
CEO Mark Zuckerberg said Facebook is "trying to give everyone the best personalized newspaper." It broke up News Feed into several new tabs including All Friends, Music, Photos and Following. The social networking giant wants to make the feed more engaging. At the end of the presentation, Facebook said it was saying "goodbye to clutter," an acknowledgement of user criticism in the past.
With changes rolling out Thursday, the new feed will focus on three things: stories, a choice of other feeds, and mobile and desktop consistency, which could lead to higher advertising rates, according to Hudson Square Research analyst Dan Ernst.
Facebook ended the week marginally higher, closing at $27.96. The company has gained slightly more than 5% so far this year, falling behind the Nasdaq, which is up nearly 8% in 2013.
Elsewhere in the tech world, speculation swirled about new Apple products and ventures, and analysts continued to debate whether the tech giant's stock has bottomed.
Analysts at Barclays and Citigroup continued to trim expectations for Apple's iPhone and iPad sales amid skepticism that the company can maintain its profit margins in the increasingly competitive smartphone and tablet markets.
Citigroup analysts said this week that they're worried about both the iPhone and the iPad, reducing estimates for Apple's two major product lines and saying that end demand is softening.