This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Apple Rises on Target Boost: Tech Winners & Losers (Update 1)

(Updates from 11:18 a.m. ET with closing information.)

NEW YORK ( TheStreet) -- Apple (AAPL ) shares rose 0.74% to $504.77 after UBS raised its price target.

Analyst Steven Milunovich raised his price target to $560 and kept his "buy" rating, citing increased chances of a deal with China Mobile (CHL), the world's largest carrier. With approximately 100 million 3G users, such a deal would have enormous potential. "We expect a deal to be struck with China Mobile before year end," Milunovich wrote in his note.

He expects an additional 17 million iPhones sold via China Mobile in fiscal 2014, with 70% of them being the iPhone 5C and the remaining 30% being the iPhone 5S.

Facebook (FB ) shares rose 0.57% to $38.63 following Mark Zuckerberg's announcement of plans to connect everyone in the world to the Internet.

Zuckerberg unveiled a partnership called aimed at providing Internet access to the roughly 5 billion people who don't have it. Nokia (NOK ), Qualcomm (QCOM ), Samsung, Ericsson (ERIC ), MediaTek and Opera are joining Facebook in the initiative.

Arguing that connectivity is a human right, Zuckerberg described how Internet access provides the "foundation of the global knowledge economy" and how worldwide Internet access would "not only improve billions of lives, but...also improve our own as we benefit from the ideas and productivity they contribute to the world."

Shares of Hewlett-Packard (HPQ ) dropped 1.01% to $25.58 despite an increase in its price target, ahead of quarterly earnings.

Analyst Keith Bachman of BMO Capital Markets raised HP's target price from $24 to $30, citing strong margins and cash flows in the printer sector, stable margins in the Enterprise group, and growth in the networking market. Bachman also pointed to software as a source of profits despite its small revenue base. "Longer term, we think that HP's software business can do better given HP's approach of selling more solutions to its clients instead of focusing on selling discrete components of its portfolio," he wrote in the note. "We think that HP will likely emulate IBM in this approach by focusing more on services led approach which can pull in more software and hardware revenues. In addition, we expect HP to complete more software acquisitions."

HP reports its third-quarter results today after the bell. Though the PC maker is still undergoing a massive restructuring, analysts are looking for revenue of $27.29 billion and earnings of 86 cents a share.

Closing prices: AAPL closed 1.3% higher at $502.36, FB was unchanged at $38.32 and HPQ fell 1.8% to $25.38.

-- Written by Laura Berman in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.21 -0.44%
FB $117.80 -0.22%
HPQ $11.44 -1.30%
GOOG $701.26 0.80%
TSLA $211.34 -5.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs