ImpigerTech News You Need To Know: May 6 – 13, 2016

Apple Stock Hits Near Two-Year Low Amid Falling Sales And Credibility

by  Aaron Pressman

Following weak quarterly results, Apple’s stock plunged to a two-year low last week. After an amazing 8-year run,iPhone sales were flat and the sale of iPads and Mac computers continued to decline, resulting in the tech giant’s stock to decrease in value.  For a company that is worth half a trillion dollars and has done 54.1 billion in sales with $10 billion+ in profit in one-quarter,achieving year-on-year growth is a tough ask. However,the markets disagree. Back in February,Alphabet ($544 billion),the parent company of Google,beat Apple ($538 billion) to become the most valuable company in the world.

A.I. wins the Superfecta at the Kentucky Derby,turns $20 bet into $11,000

An artificial intelligence program called,Unanimous A.I,successfully picked the top 4 places in the Kentucky Derby Superfecta,turning a $20 bet into $11,000.  The odds were a staggering 540-1. The program also predicted the winners of the Oscars and the Super bowl but this prediction seems to be its best yet.  UNU uses a unique form of artificial intelligence called swarm intelligence that aims to amplify rather than replace human intelligence,in contrast to Google’s DeepMind which defeated the world champion in ‘Go’ almost ten years earlier than expected. 94% of App Store revenue comes from the top 1% of developers By Randy Nelson A study performed on the U.S App store from January 1st to March 31st,revealed that one percent of app developers were taking home 94% of the revenue through paid applications and in-app-purchases. That comes to approximately $1.34 billion of the $1.43 billion in revenue to 623 publishers,the remaining 6 percent—approximately $85.8 million—was divided among the other 61,677 publishers. It is also interesting to note that nearly 400,000 applications in the app store have never been downloaded.

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