Business

This week in tech stock, Hyperloop edition: The bigger they are, the harder they fall

Image Credit: ET3

When it comes to thinking big, the Hyperloop is about as big as it gets. Well, excluding space travel, we guess.

This week, Tesla CEO Elon Musk revealed his grand plan for the Hyperloop, a proposed high speed train-in-a-tube that would shoot people back and forth between San Francisco and Los Angeles at speeds exceeding 700 miles per hour. A major part of that grand plan, however, is that Musk is leaving it all up to the community.

Score one for open source design. Score zero for Tesla. The electric car company’s CEO admitted before the big reveal that he was “too strung out” on Tesla (and his space startup, SpaceX) to pay proper attention to the plans, which were officially opened up to the wider world on August 12.

Tesla stock slumped throughout the week, finishing around 7 percent below Monday’s starting price. Womp-wah.

Google and Microsoft also saw small dips in stock price. The two companies bickered publicly over a YouTube app for Windows Phone (Google won’t allow it). Google also got slammed by Oracle CEO Larry Ellison for stealing code. And in spite of week after week of ongoing privacy concerns, Google launched a new feature that combs your email, calendar, and contacts and puts the results into Google web search. So, not a great week for Google, which was trading down almost 4 percent for the week.

Microsoft, for its part, found its Xbox One to be a bit of a hard sell for some consumers, who complain that the unit doesn’t do much unless the Kinect camera is turned on. While Microsoft believes you’ll want to buy it and keep the Kinect camera on forever and ever (again, privacy issues abound here), consumers are asking for a cheaper version of the Xbox One with no Kinect bundle. And Microsoft is still saying no. Stock was trading down nearly 3 percent at market close on Friday.

Time for a winner: This week, it’s Apple! Trading up a whole 10.5 percent, this company saw some pretty heavy Twitter flirting from financial heavyweight Carl Icahn, who has been playing footsie with Apple CEO Tim Cook. You know what they say: When Carl comes callin’, your stock price ain’t fallin’. Or something.

Here’s a look at the week’s more notable fluctuations, showing percentage change only:

GOOG Chart


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