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 - Get Report) 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: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts