April 22 Tech Currents
8:35 AM. ISuppli cuts Apple (AAPL) iPad 2011 shipment forecast by 9% -- from 43.7 million in February to 39.7 million. Apple could not satisfy Q1 iPad2 demand due to LCD quality concerns and speakers parts shortages. Will this 9% drop in iPad shipments cut Apple 2011 revenues by $1 billion? Will Apple fix LCD problems with investment in LG Display (LPL), Sharp and Toshiba Mobile Display?
8:58 AM. Tokyo social networker, Gree (3632), pays $104 million for OpenFeint, a U.S.-based maker of 5,000 smartphone games. Gree, with 25 million customers, wants OpenFeint to help it reach 75 million more. Gree's stock rose 3.4% on the announcement and is up 40% in 2011. Could Gree's aggressive expansion plans boost shares in its partner, Tencent Holdings (TCEHY)?