Tech Stocks in Motion on Rumor, Apple Records New Highs

Let’s start this post with a rumor.  The latest one is that Research in Motion (NASDAQ: RIMM) is in talks with Samsumg to be purchased by the South Korean giant.  The stock was up 8% on the news.

Apple (NASDAQ: AAPL) hit an all-time high on Tuesday, hitting an all-time high of $424.70 per share.  With the broad market now solidly in bull mode this is not surprising.  The best stocks are going to continue attracting money.  Similarly IBM (NYSE: IBM)  continues to march ahead, crossing $180 per share.

Intel (NASDAQ: INTC) has been trading sideways since they guided lower due to channel issues in the wake of the hard drive shortage caused by flooding in Singapore.  One of their chief competitors in the mobile processor market, ARM Holdings PLC (NASDAQ: ARMH) continues to be range bound between $25 and #30 per share.  They are the dominant players in that space and look to be for the foreseeable future according to industry analysts. Intel is hoping to make inroads with their new processors powering the Ultrabook thin notebook series that they’ve partnered with H-P and others to build.

We’ll know how the tech sector is doing when Intel, Microsoft and Google report earnings after the close of trading on Thursday January 19th.  Analysts predictions are for slim income growth in the sector of less than 2%.

 

 

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Tom Luongo

About Tom Luongo

Tom Luongo is a professional chemist and self-taught economist who has been following and trading stocks for nearly 12 years. He has no formal ties to the financial industry and considers that an asset in his analysis of the interplay between monetary policy and capital markets.

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