Microsoft Corporation filed a motion on Sunday in support of Epic Games’ legal battle with Apple Inc over access to developer tools.
Microsoft Corporation filed a motion on Sunday in support of Epic Games’ legal battle with Apple Inc over access to developer tools. Microsoft said that Apple’s threat to cut off Epic Games from Apple’s developer tools would hurt Microsoft’s gaming business and other game developers. Microsoft has an enterprise-wide license to “Unreal Engine” owned by Epic Games so if the latter is pulled off Apple’s developer tools, it would affect Microsoft’s ability to make games with the technology for Macs and iPhones. Click here to read more.
Analysts at J.P Morgan Chase & Co (NYSE: JPM) have recommended that investors should hold on to their investments in the tech sector because they believe that tech stocks will rally even more in the days ahead. According to the analysts, the current rally of tech stocks has been supported by strong earnings results, as opposed to the dot-com bubble in the 2000s. Overall, the MSCI World Information Technology index is up 27% this year while global stocks have only seen a 1.5% rise. Click here to read more.
Blackstone Group (NYSE: BX), one of the worlds largest private equity firms, has entered an agreement to acquire genealogy provider, Ancestry.com for $4.7 billion. Ancestry.com is the world’s largest provider of DNA services and Blackstone is hoping that more customers stuck at home due to Covid-19 will turn to Ancestry.com for its services. Click here to read more.
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Here are the biggest movers in pre-market trading
1. TikTok will challenge Trump order banning U.S. transactions. Click here to read more.
2. Bill Gates believes that tech companies deserve the scrutiny they got during Congressional hearings. Click here to read more.
3. British Airways is very likely to face strike action. Click here to read more.
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