VIDEO - Technology Update October 2018

Technology Investing News

The Investing News Network looks at highlights from the technology sector in the month of October in this video.

October was a busy month with numerous companies hosting events releasing products.

Microsoft (NASDAQ:MSFT) kickstarted the month by releasing the updated Surface brand of laptops and desktops which, according to the company, is now valued at US$1 billion.

Google (NASDAQ:GOOGL), Samsung (KRX: 005930)and Apple (NASDAQ:AAPL) are some of the other manufacturers who released products during the month in addition to their quarterly results.

In the cleantech space, Vancouver-based Electra Meccanica (NASDAQ:SOLO) provided an update on preorder numbers for its cars, SOLO and Tofino. The company said that it received a combined 64,000 pre-orders which represents US$2.4 billion in potential sales.

Following the announcement, shares of the company jumped over 100 percent.

Elsewhere, CDPQ, a long term institutional investor, has increased the stake in solar power producer, Azure Power (NYSE:AZRE), to 40 percent with an additional US$100 million investment. 

Azure Power has a portfolio of 3,000 MW across 23 states in India.

CDPQ said that India is a priority market and that the transaction fits perfectly with its desire to contribute as an investor, to a global low-carbon economy.

In terms of cybersecurity, Patriot One Technologies (TSXV:PAT) announced in October that it will partner with Cisco Systems (NASDAQ:CSCO) on a global innovation program.

The partnership with Cisco will Patriot one in the effective commercial deployment of PATSCAN and its product acceleration. It was also said that Cisco will provide access to a global marketplace which could potentially result in the various deployment of PATSCAN.

Shares of Patriot One touched a 52-week high on the news of its partnership with Cisco.

The month also saw a report from Fico (NYSE:FICO) which revealed that Indian firms are “overconfident” about about their cybersecurity preparedness despite possessing limited tools at their disposal

Finally, in the graphene space First Graphene (ASX:FGR)announced that its PureGraph product has demonstrated its advantages in the mining industry.

The company said that a reclaimer bucket powered by PureGraph was tested on a high volume mining application and tests established that the wear life of mining equipment can be extended. It was said that the PureGraph increased strength to the base equipment.

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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.

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