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TheStreet Open House

Apple, RIM: Tech Winners & Losers

NEW YORK. ( TheStreet) -- Apple (AAPL - Get Report) was once again one of tech's biggest winners on Tuesday, hitting yet another all-time high on an otherwise downbeat day for tech stocks.

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.

Apple rival Research In Motion (RIMM), however, plunged more than 9% on Tuesday after media reports that the company has been slammed with a patent lawsuit by Dutch firm NXP Semiconductors (NXPI).

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: tips@thestreet.com.

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SYM TRADE IT LAST %CHG
AAPL $124.24 0.70%
CSCO $27.09 -1.35%
FB $83.01 0.11%
GOOG $555.17 -0.65%
TSLA $190.40 -2.00%

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DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

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