Zynga, RIMM: Tech Winners & Losers
NEW YORK (TheStreet) -- Zynga (ZNGA) shares jumped 6.3% to $14 in late afternoon trading on Thursday after the FarmVille creator launched its own gaming platform outside of Facebook. The social gaming company had been criticized by some investors by relying too much on Facebook, which takes 30% of all revenue generated through Zynga's titles.
Apple (AAPL) shares edged up 0.1% to $542.68 after company co-founder Steve Wozniak said the iPhone maker could hit $1,000 a share. Apple shares have risen sharply in 2012, gaining 34.9% year to date, and are up 56.4% over the past year.
Fusion-io (FIO) shares soared 8.7% to $29.67 after Credit Suisse reinstated coverage of the company with an outperform rating and a $50 price target. The firm believes Wall Street's expectations of the company's calendar year 2012 revenue are too low at $386.9 million and believes it has potential to build up to $563 million.
Research In Motion (RIMM) shares sank 4.7% to 13.51 after a Jefferies analyst said the company will likely miss estimates for its fiscal fourth quarter, which ends in February, due to low BlackBerry sales. The company's handset sales continue to be battered by rivals Apple and Google (GOOG).
--Written by Olivia Oran in New York.>To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: tips@thestreet.com.
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