Shares of the tech giant briefly reached $632.21 during the day's trading, before pulling back slightly to close at $629.32. Apple shares have climbed more than 55% this year, boosted by strong quarterly results, a successful iPad launch, and, more recently, a flurry of analyst price hikes.
|Apple hit another all-time high on Tuesday.|
Shares of RIM plunged $1.36, or 9.46%, to $13.01 during Tuesday's trading."RIM typically declines comment on litigation," explained a spokeswoman for the Canadian firm, in an email to TheStreet. NXP has not yet responded to TheStreet's request for comment on this story. Networking giant Cisco (CSCO) was another of the tech sector's laggards on Tuesday, falling 29 cents, or 1.37%, to $20.82 after CEO John Chambers warned that public sector spending will remain weak. Speaking at a Wells Fargo event, the Cisco chief said that public sector spending will "get tougher before it gets better", according to a CNBC news report. The Nasdaq closed down 0.2% on Tuesday as the Federal Reserve downplayed the chances for more quantitative easing. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV