Apple Talks Future: Tech Weekly
NEW YORK (TheStreet) -- Even though it was a short week thanks to Memorial Day, tech was chock-full of stories, including comments from Apple(AAPL) CEO Tim Cook, Research In Motion's(RIMM) potential sale of itself and rumors of a Facebook(FB) phone.
Speaking at the AllThingsD conference on Tuesday, Cook didn't announce the iPhone 5 or the Apple television, but he did mention a few new things about the company's future.
On the subject of Apple's manufacturing, Cook noted that most of the company's manufacturing is overseas, but said he hoped that Apple's products could be assembled in the U.S. someday. Cook also spoke highly of Apple's relationship with Facebook, saying, "I think the relationship is very solid."
He also discussed other topics such as wearable technology and his relationship with Steve Jobs.
Shares of Apple finished the week down 0.2% at $560.99.
Troubled Canadian technology firm Research In Motion announced Tuesday that it will be slashing jobs. RIM also forecast an operating loss for its fiscal first quarter, and said it has hired bankers to help with its ongoing strategic review.
Beyond saying the company would report a loss, CEO Thorsten Heins did not provide specific guidance. He added that RIM expects its "financial performance will continue to be challenging for the next few quarters" and said more detail will available when the company's quarterly results are released June 28.
According to Thomson Reuters, Wall Street is looking for first-quarter earnings of a penny a share on $3.157 billion in revenue.
The company announced there will be "significant spending reductions and headcount reductions in some areas throughout the remainder of the fiscal year," but again did not provide specific numbers.
Shares of Research In Motion closed the week down 6.7% at $10.26.
Facebook reportedly is looking to launch its own branded smartphone, a move many are seeing as desperate should it come to fruition.