Getty Images Enlarge Image SAN FRANCISCO (MarketWatch) — Apple and Twitter shares rallied to give the technology sector a boost Tuesday, even as the group was weighed down by slumping shares of Microsoft and Google.
Apple (AAPL) rose 1.3% to $637.01, a day after the iPhone maker unwrapped new software initiatives at its developer conference in San Francisco.
Susquehanna analyst Chris Caso raised his price target for Apple to $725 from $650, and said the company's software announcements are "mostly evolutionary changes that continue to strengthen the Apple ecosystem."
Twitter (TWTR) gained 2.4% to $32.53, as the social network's stock turned positive for the week. Twitter is still down nearly 50% year-to-date.
Chip stocks also were mostly up, with shares of Broadcom Corp. (BRCM) gaining nearly 2% and Intel Corp. (INTC) up a fraction. The Philadelphia Semiconductor Index (SOX) edged higher by 1%.
But the Nasdaq Composite Index (COMP) was mostly flat, last down 2 points, at 4,235. Among the notable decliners were Google Inc. (GOOGL) and Microsoft Corp. (MSFT) , each down 1%.
More must-read stories from MarketWatch:Apple rolls our a more combative CEO
In Silicon Valley, even the young turn to cosmetic surgery to looks smart
No comments:
Post a Comment