Technology

TECHNOLOGY

GLG's technology fund managers Philip Pearson and Anthony Burton have been adding substantially to their position in US giant Apple after a brutal sell-off recently saw it shed over 20% of its value.

Apple's glory days are numbered and it will be impossible for the technology giant to sustain its meteoric pace of growth, according to Ben Rogoff, manager of the £412m Polar Capital Technology trust.

European markets were well into positive territory in afternoon trading, lifted by Spanish bailout talk, while in the US, Apple's latest iPhone sent its shares up to a new peak.

Facebook founder Mark Zuckerberg has said he will not sell any of his shares in the company for at least a year in a move to boost investor confidence, after shares in the social networking giant sank to a new low.

Apple has overtaken Microsoft as the most valuable company of all time after its share price surged yesterday, pushing the value of the company to $623bn.

Shares in social networking giant Facebook have hit a new low, falling another 6% after the first lock-in period ended and its largest investors were able to sell the stock.

Ahead of Facebook's $16bn IPO, Morgan Stanley, the lead underwriter on the deal, reduced its revenue forecasts for the social network, Reuters reports.

Internet giant Google has revealed profits surged 26% in the third quarter, with net income jumping from $2.17bn to $2.73bn year on year.

Transact has added to its range of tax wrappers with the launch of an onshore bond. The wrapper is ...