“Technology stocks started December on an upbeat note Thursday, as bellwether issues such as Intel Corp. and Apple Computer Inc. advanced, and the tech sector benefitted from broad-market approval of the latest retail sales and economic data,” Rex Crum reports for MarketWatch.
“Intel (INTC: $27.21, +$0.53, +2.0%) rose 42 cents, or 1.6%, to $27.10, after the world’s top semiconductor company said it would spend $3.5 billion to build a new chip-production plant in Israel. Bear Stearns analyst Gurinder Kalra said, in a research note, that he expects Intel to raise its revenue outlook when it gives a midquarter update on December 8,” Crum reports. “Apple (AAPL: $69.79, +$1.97, +2.9%) continued to stand out, rising $1.92, or almost 3%, to $69.73. Four Wall Street analysts this week have raised either their price targets or earnings estimates for Apple due to what is expected to be a strong quarter fueled by iPod sales.”
Full article here.
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