NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) shares ticked lower, off 0.38% to $587.31 following a recent run-up in the stock, as investors begin to reassess the world's largest technology company.
Over the past three months, shares of Apple have fallen 12.94%, under-performing the Nasdaq and rivals like Samsung and Google (GOOG). In the past five days, it appears sentiment is turning around, with Apple outperforming the Nasdaq, gaining 3.98% to 2.27% for the tech-heavy index.
Apple announced Tuesday that its new iMac computers would be available Friday, amid speculation the new desktop computers could be delayed as a result of production issues. Apple had previously said the 21.5-inch iMac would be available in November, and the larger 27.5-inch version would be available in December.
Research In Motion (RIMM) shares fell sharply, off 5.51% to $11.32, following a recent run-up in the stock on optimism over BlackBerry 10.Earlier this month, the Canadian-based technology company announced that its new platform, BlackBerry 10, would debut at a launch event on Jan. 30, 2013. National Bank Financial analyst Kris Thompson recently upped his price target to $15 from $12, citing investor confidence ahead of the launch.
Facebook (FB - Get Report) shares continued to be "friended" by Wall Street, gaining 0.62% to $26.10 as analysts continue to raise price targets on the social network. Sterne Agee's Arvind Bhatia raised his price target on Facebook to $32, citing the improved revenue outlook from its mobile initiatives. "We believe strong mobile performance in 3Q has helped alleviate the key investor concern surrounding the ongoing mobile transition for Facebook. We see this momentum continuing into the foreseeable future," Bhatia wrote in a note to clients. He rates Facebook shares at buy. Noted Facebook bear BTIG analyst Rich Greenfield recently upgraded Facebook to "neutral," saying the impact of mobile ads appears to be positive to revenue at this point "with no discernible impact on users/user experience." Interested in more on Facebook? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York. >Contact by Email. Follow @Commodity_Bull
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