For the iconic computer maker, speculation was running high on the potential features that its next iPhone will carry when it unveils its 10th anniversary edition. Talk of these new features is helping spur excitement among investors, who hold out hope it will lead to higher iPhone sales as loyalists upgrade their smartphones and lead to greater revenue for Apple.
The speculation ranges from an iPhone that features organic LED screens, augmented reality technology baked into the device and capability for wireless charging.
Morgan Stanley, meanwhile, raised its Apple price target to $154 from $150, pointing to China's "outsized growth" potential in fiscal 2018, in which it could juice iPhone sales. Morgan Stanley, as a result, raised its fiscal 2018 iPhone sales estimates by 3%.
Apple closed at $136.70, up 0.72%.
Amazon.com shares edged forward, after the e-commerce giant announced it would throw in free shipping for orders of $35 or more in merchandise. Previously, users would have to order at least $49 to receive the free shipping.
Amazon is smart to increase its attractiveness to shoppers, given Walmart's blow-out fourth quarter. Walmart's performance received a sizable boost from its e-commerce operations, which posted a 29% revenue pop with the aid of its recent acquisition of Jet.com, founded by its CEO Marc Lore.
Lore is a former Amazon.com employee, following Amazon's purchase of his company Quidsi, which operated Diapers.com and Soap.com. Lore remained with Amazon for two years before moving on to create Jet.com. For Amazon's founder Jeff Bezos, losing Lore may prove problematic in the long run.
Nonetheless, Amazon.com closed up 1.35% to end the day at $856.44.
Yahoo! investors apparently breathed a sigh of relief, after Verizon Communications (VZ) - Get Report announced it would only slice its Yahoo! buyout offer by $350 million-not the reported $1 billion it had asked for last year following Yahoo's massive security breach.
Verizon said it would purchase the struggling internet pioneer for $4.48 billion in cash, down from $4.83 billion.
Although this cut is far less than the figure that was apparently discussed last year, it is up from the reported $250 million that was under consideration in recent weeks.
Yahoo closed up 0.89 percent to $45.50.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.