Apple Inc. (NASDAQ:AAPL) plans to acquire a social e-commerce company called Fancy and Pinterest. The acquisition would be a way for Apple to drive more purchases of music and videos through its iTunes store.
According to Yankee Group analyst Carl Howe, in his research note, that social e-commerce site Fancy could be a license to print money for Apple.
The two-year old New York-based company Fancy got a valuation of $100 million all through a fundraising before the fall, according to Business Insider. Its website permits users to make lists of things they find interesting.
Other Moves
One analyst stated that enmity between Apple and Google (NASDAQ:GOOG) seemed to worsen when the iPhone maker declared on Monday that it would not include a pre-loaded app for YouTube in the new version of its iPhone and iPad software.
Financial Review; Apple Inc. (NASDAQ:AAPL) showed downhill movement -0.26% or -$1.64 to close at $620.91 following its intraday high of $625 with last month’s stock price volatility of 1.72%.
The total traded volume in the current trading session was 10.37 million shares as evaluated with average 14.00 million shares and its total market capitalization reached $582.05 billion.
A short look at other major stocks associated with AAPL: Sprint Nextel Corporation (NYSE:S) plunged -0.69, Verizon Communications Inc. (NYSE:VZ) tumbled -0.49% with beta 0.51 and AT&T Inc. (NYSE:T) dropped -0.45% as it hit cautious labor contracts with the union in the southeast zone surrounding billing and utility processes.
Other tech stocks contenders are Agilent Technologies Inc.(NYSE:A) which rose 2.60% after the firm hosted two successful workshops on Potable Molecular, Accenture Plc (NYSE:ACN) which edged 0.53% to post its fourth-quarter earnings on Sep. 27, Adobe Systems Incorporated (NASDAQ:ADBE) showed positive movement 0.72% its schedule to declare its Q3 results on Sep 19, Acme Packet, Inc. (NASDAQ:APKT) shares rose 4.73% and plans a conference on Aug. 14, while America Movil SAB de CV (NYSE:AMX) plunged -0.23%.
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