The computer hardware industry group was among the top-performing industry groups Friday, partly because of the performance of Synaptics (SYNA). Synaptics was one of several technology stocks on which Mizuho Securities started coverage. Analyst Vijay Rakesh rated the stock a buy with a 115 price target. It trades near 97. Along with Zebra Technologies (ZBRA), it’s the No. 1 company in the 19-stock industry group, which is ranked No. 29 out of 197
Apple (AAPL) might be getting ready to follow rival Samsung’s lead in using organic light-emitting diode (OLED) displays for its smartphones. Apple currently uses liquid crystal display (LCD) screens for its iPhones. But OLED displays are thinner and more power-efficient, and have higher color saturation than LCDs. OLED displays are also flexible. Apple’s first product to use an OLED display is the Apple Watch, which hit the market on April 24. Teardowns show that the smartwatch uses an active-matrix OLED display from LG Display (LPL).
Turbo Tax software maker Intuit (INTU) stock hit an all-time high Friday after the company reported better-than-expected Q3 results. Mountain View, Calif.-based Intuit late Thursday reported revenue of $2.19 billion, down 8% year over year for its fiscal Q3, which ended April 30. Analysts had expected $2.14 billion. EPS ex items fell 19% to $2.85, down 19% year over year. But it topped the $2.75 that analysts polled by FactSet were expecting. For