Tech Slide in Week of Upbeat Earnings Underscores Growing Unease

(Bloomberg) — Better earnings equals higher share prices, or so goes the customary thinking. For technology stocks during this reporting season, it’s the exact opposite.

Companies from Alphabet Inc. to Microsoft Corp. announced quarterly results that beat analyst estimates by a combined 7.7 percent, more than any other industry group in the S&P 500 Index. Yet their stocks posted the worst first-day reaction, falling an average 1.8 percent.

As tech megacaps from Facebook Inc. to Amazon.com Inc. and Google parent Alphabet reported earnings, the Nasdaq 100 Index ended a three-week streak of gains. The gauge finished the five-day period with a 0.2 percent loss and dropped 0.7 percent from a record-high Wednesday.

“Look at some of the businesses, whether it’s Apple or Google, their revenue and profit growth is staggering,” said Marshall Front, who manages $800 million at Front Barnett Associates in Chicago as chairman. “But over-concentration can lead to too much volatility on the downside.”

The S&P 500 slipped less than 0.1 percent over the five days. The Dow Jones Industrial Average gained 1.2 percent as robust results from Boeing Co., Verizon Communications Inc. and Caterpillar Inc. were rewarded with weekly share gains exceeding 7 percent.

The disconnect highlights the challenge for high-fliers such as Apple Inc. and Nvidia Corp. still due to announce results and poses a risk for a sector that has been whipsawed by price swings since June. Good profits aren’t proving to be enough for investors who have already held a record-high percentage of tech stocks in their portfolios.

Bank of America Corp. strategist Savita Subramanian flagged the potential for lackluster returns earlier this month, warning that the bar had been set higher for tech companies after investors crowded into stocks with the highest growth potential.

“Positioning risk may be an overhang to performance despite solid fundamentals,” she wrote in a July 7 research note.

And too much love can prove perilous when momentum reverses. In June, after investors had flocked to tech stocks anticipating faster earnings growth in a move that pushed the Nasdaq 100 Index to rise twice as fast as the S&P 500, they rushed for the exit all at once, sparking the worst selloff since 2008 relative to the rest of the market.

The vulnerability was on display again Thursday as tech stocks bore the brunt of a selloff triggered by a note from JPMorgan Chase & Co. quant strategist Marko Kolanovic that cautioned investors about the risks of record-low volatility in the equity market.

In another sign that folks are on edge, about $2.5 billion was pulled out of the largest exchange-traded fund tracking the Nasdaq 100 over the week, the most since 2007.

While tech stocks as a whole are trading at valuations similar to the broader market, anxiety is growing over prices for the industry’s leaders. The five biggest American companies by market capitalization, all involving Internet or software, have rallied an average of 32 percent since December, accounting for almost one third of the S&P 500’s advance in 2017.

The cohort, also known as FAAMG, fetched a price-to-earnings ratio of 62, almost triple the S&P 500. Apple, the largest, is due to announce results Tuesday and analysts predicted an 11 percent increase in profit.

“The earnings reports, however strong, don’t boost the sentiment toward tech stocks when valuations are this rich,” said Ilya Feygin, senior strategist at WallachBeth Capital. “There is scope for a pullback in the sector.”

[“Source-bloombergquint”]

iBall Slide Brace-X1 Tablet With 4G, Voice Calling Support Launched at Rs. 17,499

iBall Slide Brace-X1 Tablet With 4G, Voice Calling Support Launched at Rs. 17,499

HIGHLIGHTS

  • It has a 10.1-inch capacitive display
  • The iBall Slide Brace X1 offers 16GB storage
  • It packs a 7800mAh battery

iBall has launched the 4G variant of the iBall Slide Brace-X1tablet in India. The 4G variant is priced at Rs. 17,499 and is already available in leading retail stores across the country. The tablet comes only in a Gold colour option.

The iBall Slide Brace-X1 was launched in February last yearfor the price of Rs. 17,999. The new 4G variant comes with many changes: it notably sports a different camera, and runs on Android 6.0 Marshmallow out-of-the-box.

As for the specifications, the iBall Slide Brace-X1 4G tablet comes with a kickstand just like its predecessor for propping it up on a table anywhere. It features the same 10.1-inch (1280×800 pixels) capacitive multi-touch IPS display. It is powered by a 1.3GHz octa-core ARM Cortex-A53 processor with MaliT720 GPU and 2GB of RAM. The tablet offers 16GB of inbuilt storage with the option to expand further using a microSD card slot (up to 64GB.)

The iBall Slide Brace-X1 4G supports voice calling and packs a 7800mAh battery. The battery is rated to last up to 24 hours without the recharge. The tablet has a 8-megapixel auto focus rear camera with LED flash, and a 5-megapixel front camera for selfies. It packs a 7800mAh battery.Connectivity options on the iBall Slide Brace-X1 include 4G, VoLTE, Wi-Fi, Bluetooth, Micro-USB, GPS/ A-GPS, and OTG support. It also includes dual chambered speakers, which according to company can deliver a “theatrical experience”. The tablet comes pre-loaded with Microsoft Word, Microsoft Excel, and Microsoft PowerPoint apps, and various utility apps such as Facebook, Saavn, and WhatsApp. There are several GameLoft games like Asphalt Nitro, Bubble Bash 3, Midnight Pool, Modern Combat 4 Zero Hour, and Spider-Ultimate Power as well. The iBall Slide Brace-X1 21 read and write regional languages support.

iBall Slide Brace-X1 4G

iBall Slide Brace-X1 4G

Rs. 16,999
  • KEY SPECS
  • NEWS

Display

10.10-inch

Processor

1.3GHz octa-core

Front Camera

5-megapixel

Resolution

1280×800 pixels

RAM

2GB

Storage

16GB

Rear Camera

8-megapixel

Battery Capacity

7800mAh

BUY AT
  • Amazon
    IBall Slide Brace-X1 4G (Bronze Gold, 16GB, Wi-Fi + 4G VoLTE support + Voice Calling, 10.1 Inch) –
    Rs. 16,999
Tags: iBall Slide Brace-X1 4G, iBall, Tablets, Android, Android Marshmallow, iBall Slide Brace-X1 4G Launch, iBall Slide Brace-X1 4G Price, iBall Slide Brace-X1 4G Specifications, iBall Slide Brace-X1 4G Features, iBall Slide Brace-X1 4G India Launch
[“Source-Gadgets”]

Instagram Stories Gets Slide to Zoom Feature

Instagram Stories Gets Slide to Zoom Feature

Facebook-owned Instagram has provided the first update to its Stories feature where users can now zoom in while recording videos and have the option to switch between the front- and rear-facing cameras.

Instagram recently announced its Stories format that clones Snapchat’s popular feature.

In Instagram Stories, a set of moments are created that will appear in a slideshow format which can be viewed by followers for up to 24 hours which then disappear without remaining on your permanent profile – much like Snapchat Stories.

Now, while recording a video for Instagram Stories, you can zoom in by dragging your finger up from the shutter button.

“You can zoom back out by dragging down. This is exactly how zooming works on Snapchat,” tech website Mashable.com reported on Tuesday.

The Instagram update also added the ability to switch between the front- and rear-facing cameras mid-recording by double-tapping on the screen.

Instagram is also giving its users the ability to natively add text, stickers and drawings to photos in the story.

Users will see stories from people they follow in a bar at the top of their feed – from their best friends to their favourite popular accounts.

When there’s something new to see, their profile photo will have a colourful ring around it.

Unlike regular posts, there are no likes or public comments on Instagram’s “Stories”.

Tags: Apps, Instagram, Instagram Stories, Social, Stories

 

[“Source-Gadgets”]