Tech Winners & Losers: Apple, RIM

Winners & Losers updated with closing prices

NEW YORK ( TheStreet) -- The Nasdaq Composite rose 0.8%, or 21 points, to close at 2604 on Wednesday amid signs that policymakers are making progress on stemming Europe's debt crisis.

Apple ( AAPL) shares rose 0.5% to close at $402.19 amid reports the company could be working on a lower priced iPad. The device could be released in early 2012 as Apple goes after a more price sensitive consumer, as Amazon ( AMZN) did recently with its Kindle Fire.

Google ( GOOG) shares jumped 1% to close at $548.50 Wednesday after research firm Global Equities Research raised its price target on the company to $700 from $650. The firm said it is confident in Google's social network Google + gaining market share from Facebook, and sees strength in advertising spending on its video streaming site YouTube.

HP ( HPQ) shares dipped 0.1% to close at $25.89 on news the company may be reconsidering its plans to spin off its PC division, according to the Wall Street Journal. Newly appointed CEO Meg Whitman has said she will make a final decision by the end of the month.

Brocade ( BRCD) shares dropped 7.6% to close at $4.50 after receiving a downgrade from J.P. Morgan on Wednesday to underweight from neutral, citing caution on near-term IT spending.

Research In Motion ( RIMM) fell 2.1% to close at $23.88 after BlackBerry outages spread to the U.S. on Wednesday. The disruptions began earlier this week in parts of Europe, the Mideast and India and affected e-mail service, Internet browsing and messaging.

-- Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

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