The 10 Biggest Tech Stories of the Past Week
Some are rather obvious (the biggest involves a company that rhymes with "bumbler"). Some were surprising, and others were… Well, you will just have to read on to find out.
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at 248-636-1322 or louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Yahoo acquired Tumblr
Tumblr, the popular microblogging and social networking site, became a subsidiary of Yahoo after the dot-com empire announced that it had acquired the firm.
Tumblr's buyout is part of Yahoo CEO Marissa Mayer's plan to transform the company into a modern-day stalwart that can take on the likes of Google, which just happens to be Mayer's former employer.
Current Tumblr users responded with a number of complaints, but Yahoo still hopes to get its money's worth of the $1.1 billion acquisition.Image Source: Wikimedia Commons
Microsoft unveiled the third-generation Xbox
Like it or loathe it, Xbox One is coming to (and taking over) a TV near you.
Set for release "around the world" later this year, the new console is designed to be an all-in-one entertainment device that caters to a very specific audience.
The price and release date were not announced, but Microsoft is expected to make further announces in about two weeks during the 2013 Electronic Entertainment Expo.Image Credit: Microsoft
Apple's tax troubles continued to multiply
Did Apple use an unusual tax structure to avoid paying its fair share of taxes? A Senate subcommittee believes that the answer is yes.
In his opening statement before the subcommittee, Apple CEO Tim Cook insisted that the company "pays all the taxes we owe -- every single dollar." He said that Apple does not "depend on tax gimmicks" and claimed that its foreign subsidiaries only hold 70 percent of the firm's cash "because of the rapid growth of our international business."Image Source: Wikimedia Commons
Electronic Arts reversed its stance on Wii U
Earlier this month, an Electronic Arts spokesperson said that the company did not have any new games in development for Wii U.
Roughly a week later, Blake Jorgensen (EA's financial chief) told analysts that the company is still developing for Wii U but would produce more games for other consoles. He did not specify which consoles would receive more games, but the company's Xbox One presentation made it clear that Microsoft's new console is on the list.Image Source: Wikimedia Commons
Tax loopholes became a global problem
iWatch could be saved for 2014
KGI Securities, the firm that is famous for predicting (or attempting to predict) Apple's every move, does not think that the iWatch will arrive in 2013.
Unfortunately, chief Apple analyst Ming-Chi Kuo now thinks that the iWatch will be released sometime in 2014.
With no proof that an iWatch even exists, investors might think that this is just another Apple Television: a cool but mythical idea that may never come true.Image Source: Wikimedia Commons
Discovery bet its future on YouTube
Discovery Communications does not yet know if the future of television will be with cable or with the Internet. Just in case it's the latter, the company has launched an all-new website, TestTube.com, for men in the beloved 18 to 34-year-old demographic.
The new site (which is powered by YouTube) features a plethora of Discovery Channel-style content that has been scaled down for quick, on-the-go viewing.Image Source: Wikimedia Commons
MacBook Air upgrade inched closer to reality
Everyone loves MacBooks. Even those who complain about the price secretly love Apple's popular notebook -- otherwise they would not care about the price!
Thus, it should come as no surprise to anyone that consumers are excited about the rumors of a MacBook Air refresh.
In short, the current MacBook Air is quickly disappearing from retailers across the country, which have decided not to replenish their supply. WWDC 2013 is right around the corner, and Intel's new Haswell chip is about to be released.
Put all of those things together and what do you get? A MacBook Air refresh in roughly two weeks.
Target dropped the price of Wii U on the eve of Xbox One's unveiling
While this was not the worst thing that could happen to Nintendo, the company could not have been happy to hear that Target, one of the nation's largest retailers, had reduced the price of the basic Wii U package.
The 20 percent discount took a whopping $60 off the unit, reducing the price to just $239.99.
Microsoft and Sony have yet to announce how much their new consoles will cost when they are released later this year.
iPad 5 production news reinvigorated the Apple hype machine
Here's a shocker: a small number of iPad 5 units are close to entering production.
The fifth-generation device is expected to go into full production in July, but Apple is expected to produce a limited number of units far sooner.
Current rumors suggest that the next iPad will be released in September.
Note: This image is of the iPad 2.