The technology sector is seeing some major upheavals. Google (GOOG) has teamed up with Motorola (MOT) to create the Droid-Android phone – there is speculation that it could dislodge Nokia (NOK) from the top spot. Google also announced free GPS software - which the market took as a major negative for Garmin (GRMN) and TomTom (TMOAF.PK). Both share prices dropped sharply last week and their short bases have been rising steadily.
Nintendo (NTDOY.PK) reported disappointing sales for the Wii, which hit the share price; Sony (SNE) also reported earnings but the market took them well. There is some speculation that [Microsoft's (MSFT)] XboX and PS3 might be making a comeback.
Palm's (PALM) new phone has so far failed to reduce the large short position in the stock, despite media discussion of a possible bid by Nokia.
