Apple’s Mega Sep 9 Event
Apple launched the anticipated phones, watch and payments system in typical style, accompanied with the same level of excitement as always. But the novelty this time around was not the devices as much as the NFC-based payments system, a technology Apple has shunned in the past. It appears that Apple has been busy teaming up with a host of companies to ensure its success. And the efforts just might bear fruit considering the changes being implemented by the government to check fraudulent payments.
Americans will now be issued credit cards incorporating chip-level security that will necessitate the changing of POS terminals. Stores that do not upgrade by Oct 15 will be required to pay higher transaction fees. The biggest deterrent to NFC adoption was the cost of replacing payment terminals, but now there’s every chance that the new terminals will be NFC enabled.
Alibaba IPO Drives Yahoo Shares
The Alibaba IPO news is getting old, but Yahoo (YHOO) shares are scaling high as the big day draws near. The shares could fetch as much as $21.1 billion, dwarfing Facebook’s $16 billion. If underwriters sell additional shares, the company would be able to raise $24 billion.
Also, unlike other tech IPOs, prices may be expected to hold up and gain further because the company is not a startup and has a roaring business in one of the fastest-growing economies of the world. The shares will trade on NYSE under the BABA symbol from Sep 19. Yahoo shares are a good way to buy into Alibaba’s success, so shares are likely to remain buoyant at least until then.