2013 was a busy, busy year indeed for the market’s most valuable sector: tech. Here’s a look back at some of the biggest stories in tech over the last year:
Facebook ($FB) unveils Graph Social. It’s the first step the company takes during the year in their quest to focus less on growing the user base and more on squeezing additional revenue out of existing users, specifically by getting them to use Facebook more frequently and stay on the site longer.
Oracle ($ORCL) buys Acme Packet for approximately $2 billion. It’s the first major acquisition for the tech giant on the year.
First rumors of Apple’s ($AAPL) iWatch begin surfacing. The product is supposedly a game changer in the works.
IBM ($IBM) touches all-time high of $212 a share. Almost immediately following the triumph of the tech giant, the company’s shares would shed value for the rest of 2013 as the company struggled to find direction.
BlackBerry ($BBRY) jumps on better-than-expected profits. The good quarter for the smartphonemaker however, will be completely erased in the coming months as the company’s Z10 phone line becomes a complete disaster, losing billions for BlackBerry.
Hulu starts looking for a buyer. With Netflix tearing it up on their way to becoming the hottest etch property of 2013, rival Hulu officially begins its attempt to sell itself.
Groupon ($GRPN) reports increased mobile usage, but loses money. The daily coupon site loses money in its earnings report, bringing the entire company’s business model into question.
Zynga ($ZNGA) lays off 520 employees. The former king of social media gaming fails to find a hit after Farmville, and if not for the company’s cash hoard they would be in major trouble indeed.
Facebook soars over 25 pervcent in a single day on triumphant earnings report. The social media giant finally monetizes mobile users effectively, and as a result reports revenue and earnings that far exceed expectations. The company gains billions in market cap in one trading session.
Yahoo ($YHOO) beats Google ($GOOG) in traffic. Under the leadership of Melissa Meyer, Yahoo proves their continued relevancy by besting search king's Google in monthly traffic. Prior to Yahoo's July victory, Google and their properties had held the top spot every month for over two years.
Google announces move into smartphones. The move, which was widely expected, gets Google in on one of the most lucrative businesses on the planet. The start will be rocky, however, with Google's hardware division (Motorola Mobility) losing billions to start.
Dell to go private for $25 billion. Concluding a long, ugly battle between Del CEO Michael Dell and activist investor Carl Icahn over the future of the company, Dell's board finally sides with Dell, taking the once-dominant computer maker off the market to focus on a turnaround without pressure from public investors.
iPhone 5s Gold sells out on first day. While questions abound concerning Apple's decision to release two iPhones simultaneously, the company does score one definite win: the gold color of the upscale iPhone 5s is an immediate hit, with scalped units selling on eBay (EBAY) for thousands of dollars.
Hewlett-Packard ($HP) continues march upwards on reassuring comments from CEO Meg Whitman. One of the biggets surprise stories in 2013, S&P 500 component HP rises signifcantly after Whitman promises growth for the company in 2014.
Twitter ($TWTR) explodes on first day of trading. As predicted by Equities.com IPO expert Francis Gaskins, Twitter gaps on its debut amidst heavy volume. However, few predicted how singificant that stock pop would be, with the social media company gaining nearly 75 percent on its first day.
Tesla ($TSLA) pops after being cleared in car fire issues. Three car fires connected to electric car batteries in Tesla's Model S are declared by German regukators to not be the fault of the manufacturer.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer