During Friday’s afternoon trade, Shares of Facebook Inc (NASDAQ:FB), dropped -2.64% to $102.09. The firm opened its current trade at $104.51. The total volume traded for the day is 26.98M shares, as compared to its average daily volume of 28.86M shares. The stock is floating in a range of $101.65 $104.72. The stocks hold the market capitalization of $293.03B.
Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $112.57, according to 46 brokers. The higher price target for FB is $146.00, while the lower price target is $68.00. In the past 52-weeks, the company shares have gained 37.77% and marked new high $105.12 on Oct 29, 2015. According to news report, Facebook is enforcing a no-iPhone policy for key engineers in its product team so they experience what using the social network is like for most users. While smartphone penetration in the US and Europe has reached saturation point, handset adoption is accelerating in places like India, where users prefer low-cost Android devices. The catch for Facebook is its well-paid engineers live in a different world to most of its users and the company hopes to change this as it doubles down on emerging markets, according to zdnet
I am mandating a switch of a whole bunch of my team over to Android, just because people, when left up to their own devices, will often prefer an iPhone, Wired quoted Chris Cox, Facebooks chief product office as saying.
The policy was declared amid a broader presentation about Facebooks focus on emerging markets and coincided with Facebook CEO Mark Zuckerbergs visit to India this week, where he argued the case for greater access to the internet. Zdnet Report
Facebook, Inc. operates as a social networking company worldwide. It provides a set of development tools and application programming interfaces that enable developers to integrate with Facebook to create mobile and Web applications.
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