Apple, Oracle lead tech sector rally

“The tech sector rallied Tuesday, reclaiming ground lost to Monday’s sharp declines, as shares of Apple Inc. and Microsoft Corp. posted solid gains,” Benjamin Pimentel reports for MarketWatch.

“Oracle shares (ORCL +4.61%) rose 4% in early trading, while Apple (AAPL +4.46%) jumped 3.3% and Microsoft (MSFT +1.68%) traded up by 1.4%,” Pimentel reports. “Microsoft and IBM Corp IBM +1.07% , which was up 1.2%, were among the top gainers on the Dow Jones Industrial Average DJIA +1.92% , which was recently up 160 points.”

Pimentel reports, “The Nasdaq Composite Index (COMP +3.54%) was ahead 2.4% at 2,414, while the Morgan Stanley High Tech 35 Index (MSH +3.18%) and the Philadelphia Semiconductor Index (SOX +3.12%) were each up more than 2%.”

Read more in the full article here.
 

13 Comments

  1. http://www.washingtonpost.com/blogs/political-economy/post/day-after-market-preview/2011/08/09/gIQANedS4I_blog.html

    11:05 a.m.: Race between Apple and Exxon Mobil

    “There are two stocks that the market is watching very closely this morning — Apple (NASDAQ:AAPL) and Exxon Mobil (NYSE:XOM) — to see which one will become the top stock in the Standard & Poor’s 500 Index.

    “Ten years ago, Apple ranked 287 in the list of the top companies in the Standard & Poor’s 500 by its market value, according to an index analyst. After yesterday’s drop, it ranked number two, just behind Exxon Mobil and ahead of IBM and Microsoft, in third and fourth place respectively.

    “Both Exxon and Apple were up sharply today, and as of about 10:50 a.m., Apple’s total market value of $340.7 billion was less than $5 billion short of Exxon Mobil’s $345.4 billion.

    “If Apple does take the number one spot in the index, it would make quite a statement about the U.S. stock market. Exxon, formerly Standard Oil of New Jersey, the oil giant started by John D. Rockefeller, has been a mainstay of the U.S. economy for more than a century, delivering steady dividends through thick and thin. Apple has been around for just over 30 years but has delivered sky-rocketing growth thanks to its constant product innovation. With Apple on top, growth may be back in favor over the safety and predictability of big-cap dividend yielding-stocks.”

  2. Leave Exxon products the wild and you have a significant ecological problem.
    Leave Apple products in the wild and they disappear.

    Ergo: Apple is much better for the environment than Exxon.

    1. Hardly.

      A lot of energy is used creating apple devices and electronics have plenty of harmful chemicals and toxic materials in the manufacture phase and in the devices themselves.

  3. Will you remember the day and where you were, when Apple became the most valuable (by market caps) publicly traded company in the world?

    Cheers, Apple, Mr. Jobs and co. Well done them. Remarkable.

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