Tech giant IBM ( IBM) unveiled a new form of chip technology Tuesday, which the company claims will pave the way to smaller, faster and more power-efficient processors.

The new chip technology, which goes by the catchy name of CMOS Integrated Silicon Nanophotonics, combines both electrical and optical components on the same piece of silicon. This lets chips communicate using pulses of light, as opposed to traditional electrical impulses, according to the tech giant.

IBM shares closed up 20 cents, or 0.14%, at $145.38 on Friday.

Verizon ( VZ) is set to launch its long-anticipated 4G wireless network Sunday. Billing it as "the world's largest" LTE network, Verizon will offer the faster service in 38 U.S. cities. Subscribers will be sold $99 wireless modems to connect to a data-only network that Verizon says is up to 10 times the speed of its 3G service.

Verizon shares closed up 16 cents, or 0.49%, at $32.90 on Friday.

Analyst firm Pacific Crest raised its Apple ( AAPL) estimates during the week, as tech watchers get set for the introduction of both a Verizon iPhone and the iPhone 5. "The likely launch of a CDMA iPhone on Verizon in Q2 prompts us to raise our second-quarter iPhone unit estimate to 15.2 million from 12.0 million," said analyst Andy Hargreaves in a note Friday.

The analyst firm, which expects to see a Verizon iPhone prior to the end of March, also raised its full year iPhone estimate from 54.1 million units to 59.9 million units.

Apple's stock closed down 71 cents, or 0.22%, at $317.44 on Friday.

--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

If you liked this article you might like

Amazon Roadkill; Northrop Deal Synergies -- Jim Cramer's Top Thoughts

Food Stocks Go Hungry; China Pressure -- Jim Cramer's Top Thoughts

How eSports Leaders Are Making a Business Out of the Professional Gaming Market

Why Amazon's Reported Smart Glasses Might Be Just a Niche Product -- For Now