Weekly Highlights: Apple's Stock Split Surprise, iPhone Sales And More
This week, Apple (NASDAQ: AAPL) surprised the world when it announced an unprecedented 7-for-1 stock split.
The company also revealed the latest sales performance of the iPhone, which proved that Apple still has what it takes to break smartphone sales records. The iPad, on the other hand, experienced a notable decline.
Meanwhile, WWE Network (NYSE: WWE) soared to new heights and became the number-two player in live streaming.
Google (NASDAQ: GOOG) accidentally allowed consumers to purchase Glass far longer than it had planned.
Netflix (NASDAQ: NFLX) pre-announced a forthcoming price hike.
CrowdRise raised more than $20 million from some very big players in the tech and entertainment spaces.
And smart wallet apps could soon be dethroned by an actual, physical smart wallet.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Apple's 7-For-1 Stock Split Surprises All
Some investors wanted it, but no one really expected Apple to split its stock.
Even fewer people expected the company to announce a 7-for-1 stock split.
But Apple -- a company that's famous for developing the iPod, iPhone, iPad and MacBook -- decided that it was time to surprise investors.
Will this silence critics who have been waiting for fresh and exciting new products? It might…for now.Image Source: Wikimedia Commons
iPhone Sales Soared While iPad Sales Began To Fall
iPhone sales reached a new high when Apple announced its second quarter results.
An impressive 43.7 million units were sold -- roughly six million more than consumers bought during the year-ago period.
iPad sales were much less impressive. Apple sold 16.35 million units, down roughly three million units from Q2 2013.Image Source: Wikimedia Commons
Google Glass Went Public, But Not Really
Google surprised some consumers when Glass orders accidentally appeared online -- and not just for the buy-it-while-you-can 24-hour period.
There were mixed messages that added to the confusion, but when Benzinga tried to place an order, it appeared that Glass was actually available.
However, the order was ultimately canceled before it was processed, so there is no way to know for sure if anyone was able to order the device.Image Source: Wikimedia Commons
WWE Network Continued To Rise
WWE’s stock may be going through a rough patch, but WWE Network -- the company’s online video service -- is performing very well.
WWE Network has become the second biggest live streaming site.
When the latest WrestleMania debuted, WWE Network even managed to become the third most popular overall streaming video site by volume.Image Source: Wikimedia Commons
Netflix Teased Its Next Price Hike
Netflix is getting ready to raise its prices in the United States.
CEO Reed Hastings made the announcement after the company revealed its latest quarterly results.
He downplayed the price hike, saying that the increase wouldn’t be more than a dollar or two. Current subscribers will be grandfathered in to the old price for at least one year.
Hastings’ announcement and overall attitude is being viewed much more positively than the last price hike, which upset consumers and chased away 800,000 paying customers.Image Source: Wikimedia Commons
…And Hulu Could Follow Suit
CrowdRise Raised A Ton Of Money
Many investors and entrepreneurs love to give back, so when CrowdRise asked them to help out, they answered the call.
This week the company announced that it had raised $23 million from some of the world’s biggest names, including Jeff Bezos and Brett Ratner, who joined former investors Jack Dorsey and Eric Schmidt, among many others.
"We wanted to make giving back fun," Robert Wolfe, co-founder and CEO of CrowdRise, told Benzinga.
"Our vision is that we can change the world and have an impact because people actually like giving back. There are so many fundraisers on CrowdRise that are really crazy and fun."Image Source: Wikimedia Commons
Smart Wallets Go Physical
The app-only smart wallets of yesterday are about to face a new competitor: Wocket, an actual smart wallet.
Designed to replace traditional wallets, Wocket will feature a host of security measures that could make it a vastly superior option.
No device is hack-proof, of course, and the price has not been set. Wocket’s developer, NXT-ID (OTC: NXTD), said that the price would be comparable to other smart devices.Image Credit: Wocket
Google Will Dominate Wearables, But Not Because Of Glass
Google’s highly anticipated Glass project was announced more than a year ago, but that isn’t the device that developers are excited about.
According to Global Equities Research analyst Trip Chowdhry, developers are most intrigued by what Google will announce in June regarding its wearable SDK.
Chowdhry thinks that announcement will be a turning point for the industry and allow Google to dominate the market.Image Source: Wikimedia Commons
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