Here are your Apple rumors and news items for Friday:
Goodbye Intel, Hello ARM: Apple’s (NASDAQ:AAPL) move to using Intel (NASDAQ:INTC)-made processors in its computers was one of the biggest movements in the technology industry during the last decade. It helped Intel’s stock recover from what in 2006 appeared to be a disastrous decline. Now, that relationship may be changing. A rumor originating at Semi Accurate claims that Apple plans to stop using Intel processors in its PCs in favor of one made by ARM Holdings (NASDAQ:ARMH). The transition would begin by 2013. ARM processors are already used in Apple’s iPad, iPhone, and iPod Touch. Semi Accurate correctly predicted in 2009 that Apple would move away from using Nvidia’s (NASDAQ:NVDA) graphics chips.
Big in China: Apple released the iPad 2 in China on Friday, and reports out of Beijing say that hundreds of customers stood in line outside the Apple store in that city all morning (some began waiting in line on Thursday afternoon), waiting for hours to get their hands on the tablet. It’s also said that many of those in line were scalpers, turning around after purchasing a tablet only to sell it to customers still standing in line for a markup of around $30. The new iPad release should help give Apple another stellar quarter in China. The company’s business in the country generated $5 billion in revenue over the past two quarters, around 10% of its overall revenue.
Number 35 of 500: Time Warner’s (NYSE:TWX) Fortune magazine released its annual Fortune 500 list of the highest-grossing publicly traded companies in America. Apple’s rapid growth over the past year helped them to soar up the list, landing at No. 35. Apple came in at No. 56 last year. Putting up $65 billion in annual revenue will get you that sort of momentum. Fortune also named Apple the eighth-most profitable company in the U.S., surpassing both Hewlett-Packard (NASDAQ:HPQ) and Dell (NASDAQ:DELL) in the process.
As of this writing, Anthony John Agnello did not own a position in any of the stocks named here. Follow him on Twitter at @ajohnagnello and become a fan of InvestorPlace on Facebook.
