Amazon, Apple: Tech Winners & Losers

NEW YORK ( TheStreet) - Amazon.com ( AMZN) was one of the few technology stocks higher in Tuesday trading, up 0.7% to $181.52 as shorts may be less concerned with Apple ( AAPL) going after the low-end tablet market.

There have been rumors that Apple would cut the price of its iPad 2 by $100 or more in order to compete with lower end tablets, such as the Kindle Fire from Amazon. Amazon shares are up 4.9% year-to-date, under-performing the Nasdaq.

Qualcomm ( QCOM) shares are lower by 0.7% to $61.68 despite the San Diego-based chip company announcing a new $4 billion buyback and raising its quarterly dividend 16%.

In the company press release, Qualcomm CEO and Chairman Dr. Paul E. Jacobs said, "Our business model continues to drive strong cash flows, enabling investments in our key business initiatives while we continue to return capital to stockholders. Since these programs began in 2003, we have returned $16.8 billion to stockholders through a combination of stock repurchases and cash dividends."

The $4 billion buyback replaces an existing buyback program which had $3.5 billion left under it. The quarterly dividend will be raised from $0.215 to $0.25 per share, and will be payable after March 23, 2012.

Apple ( AAPL) shares are off 0.75% to $529.18 as anticipation heats up for the company's product launch tomorrow.

Apple is reportedly going to launch the next version of its iPad tablet, nicknamed the "iPad HD".



Interested in more on Apple? See TheStreet Ratings' report card for this stock.

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-- Written by Chris Ciaccia in New York

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

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