Tech Five: Apple Pay makes deeper push into China
Apple struck a major deal that could give its mobile payments service a lift in China. Let's look at the technology stocks to watch Monday:
Apple. The company announced its payments system Apple Pay will support UnionPay, the most popular payment card in China. Users can link their UnionPay account to Apple Pay to make one-tap payments from their debit or credit cards. It's a massive market -- Apple says the total number of UnionPay cards issued to date topped 4.5 billion.
Salesforce. The cloud computing company will report third quarter results after the markets close Wednesday. Analysts forecast Salesforce will report an earnings per share of 13 cents off revenue of $1.37 billion.
Facebook. The social network is reportedly dipping into the business software market. According to the Financial Times, Facebook is planning a site called Facebook at Work meant to rival services including Microsoft Office and professional social network LinkedIn.
Alibaba. In a Q&A posted by the Wall Street Journal, Alibaba executive vice chairman Joseph Tsai says the company is talking with Apple about incorporating Apple Pay with its Alipay service. "We are positive about the potential cooperation, but it depends on the details being worked out," Tsai tells the Journal.
Google. The tech giant is extending trials of Project Loon, which is attempting to deliver broadband Internet access to remote areas via balloon. According to ITWire, Google will launch 20 more balloons as part of a trial in Australia in December.
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