NEW YORK (TheStreet) -- Despite hints from Verizon (VZ) - Get Verizon Communications Inc. Report that the Verizon iPhone might not happen as soon as tech watchers thought, investors pushed Apple (AAPL) - Get Apple Inc. Report to another new high on Friday. Shares rose just over 1% and closed at $292.32 for the week after rising up to $293.53 earlier in the day.
Driving investor enthusiasm: product sales keep growing, despite the tenuous spending situation ahead of the typically busy holiday buying season. Some analysts say that
and that Apple will sell as many as 21 million iPads next year.
On the iPhone front, this week Apple started selling the latest
, which coincided with the opening of two new Apple stores in Beijing and Shanghai.
Fueling speculation of global iPhone expansion were more reports of the development of a CDMA iPhone, which would be capable of running on networks overseas and, in the U.S., on Verizon's network.
the idea at an investor conference Thursday, but rumblings of a Verizon iPad surfaced after his comments.
iPhone at Verizon or not, Apple is flush with $46 billion in cash. But
, leaving some tech watchers wondering if the company is thinking about any
, perhaps a deal for
opened its wallet again this week,
, a move that's expected to
"I am happy to compete with Oracle and the Oracle/Sun mixture on the quality of our engineering," Arvind Krishna, a general manager within IBM's software group, told
Monday. "I am confident that in any bake-off, we will win."
Big Blue's willingness to buy and the tech sector's crazy M&A push continues to put other, smaller companies through the acquisition rumor mill, like security specialist
. Offering an all-in-one approach to network security,
counts the Department of Defense, Nissan, and
"We like that Fortinet helps to simplify an overly complex network security landscape," explained Jayson Noland, an analyst at R.W. Baird, in an email to
. "Fortinet's concept of a Universal Threat management (UTM) appliance was well ahead of its time."
IBM closed down $2.25, or 1.85%, $134.11 on Friday, while Fortinet, whose stock is up more than 30% for the month, closed up 33 cents to $24.
, now co-president of Oracle.
The lawsuit for breach of contract and threatened misappropriation of trade secrets sent shockwaves through the tech sector when it was filed earlier this month, and the play between Hurd and HP had risen to soap opera proportions.
HP's intellectual property will remain secure
, according to a joint statement it released with Oracle.
Investors applauded the resolution; shares of HP closed up 83 cents Friday to $40.98 while rival Oracle, which took over San Francisco this week for its massive, traffic-snarling Oracle World convention, closed down 16 cents to $26.96. Oracle CEO Larry Ellison told tech watchers Thursday that his company may be interested in buying a chip company.
On Wednesday, shares of
after the software maker reported its
The Apple rival dismayed tech watchers when it reported weaker-than-expected growth in some of its core markets, namely in sales of its graphic design/web development/video editing CS5 product.
Adobe shares closed up Friday nearly 50 cents to $26.88.
Tech's Week Ahead
will send a dispatcher to San Francisco on Thursday to attend Mobilize 2010, a day-long conference that sees technology executives discussing the future of mobile devices and cloud computing. Look for exclusive video interviews later in the week.
>Written by James Rogers in New York.
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