Tech Biz: March 2

The business of technology is growing at a phenomenal rate. Here are just four things that will help you keep you up to date.

Snap Inc. debuts on the market

Snapchat’s parent company, Snap Inc, debuted their Initial Public Offering yesterday, trading at US$17 per share with a total market value of US$24b. However, their share price rose 44 per cent from the IPO price to US$24, which the New York Stock Exchange valued at around US$33b; a substantial step up from the tech company’s opening price. In layman’s terms, buying into the app giant gains you a piece of the profit over time, but analysts from the Pivotal Research Group, such as Brian Weiser, give fair warning about the “significantly overvalued” hype.

Middle Earth: Shadow of War game on its way

Warner Bros, last Tuesday, officially announced Middle Earth: Shadow of War, sequel to the award-winning Shadow of Mordor. Developed by Monolith Productions, who made its predecessor, the story will once again cultivate an original story based off the Middle Earth lore created by J.R.R Tolkien. The press release follows an online leak from Target online.

Shadow of Mordor sold an approximate 2.99 million units, winning over 50 game-of-the-year awards – a trend which Monolith and Warner Bros. intend to grow, with its launch date set for August 22.

Nintendo Switch console launches today

The highly anticipated new console from Japanese company Nintendo was released today, selling at AU$469. The Switch is a hand-held console and home console in one, with the ability to take the game with you through detachable controllers which attach to an 8-inch screen, then switch it back to a traditional console via a resting dock that the screen slots into and reconfigures to your TV.

On the back of last year’s failed console revenue – the Nintendo WiiU reporting a loss of ¥39b, roughly around AU$452M – Nintendo will be hoping the Switch will garner the same hype as Pokemon GO. Analyst firm SuperData has reported to Forbes a much different outcome at first, projecting only 5 million units to be sold in 2017.

Apple stock at an all-time high and rising

After a stronger-than-expected result for the last financial quarter, last Tuesday, many analysts are re-evaluating their predicted targets for the tech giant’s stock. Fortune’s Aaron Pressman reported Apple stock rising 3 per cent, with quarterly profits 8 cents higher than last year and exceeding Wall Street’s predictions.

If Apple were to maintain their share price – $138.96 per share – leading up to the release of their newest iPhone, it would generate one of the highest returns for investors, from a tech company, the stock market has ever seen. Al Gore was one already capitalising on Apple’s surge, selling his 215,437 shares worth US$29.5m. – Phil Logan

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