TECH STOCKS: Apple, GoPro Rise, But Broader Techs Add To Losses

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Apple Inc. and GoPro Inc. were among the notable tech stocks to rise Tuesday, but the overall tech sector still found little in the way of upward momentum and added to the prior-day's big losses by the time the market closed.

Apple (AAPL) rose 1.6%, to close at $102.64 as industry analysts expressed more opinions on the likely impact of the company's new Apple Pay digital payment service. Susquehanna analyst Chris Caso said he thinks Apple Pay "is going to be a hit," and said it was easier to use than Google Inc.'s Google Wallet offering. Apple introduced Apple Pay earlier this month at an event in which it also unveiled the new iPhone 6 and iPhone 6 Plus.

(Read more about analysts' views on Apple Pay in The Ratings Game http://www.marketwatch.com/story/analysts-have-high-expectations-for-apple-pay-2014-09-23.).

An Apple representative also told CNBC that it was "not true" that the company was planning to shut down its recently acquired Beats Music streaming service.

GoPro (GPRO) continued its recent gains, with its shares rising almost 7% to close at $72.88. The digital-camera maker has been on a run since last Thursday, when Google Inc. (GOOG) said it was putting more money into YouTube in an effort to help some of the video-sharing platform's stars create higher-quality content for the site.

Mild gains also came from Netflix Inc. (NFLX), Yahoo Inc. (YHOO), Amazon.com Inc. (AMZN) and Facebook Inc. (FB).

In Alibaba Group (BABA) news, the Chinese Internet leader's recently-offered shares slipped by 3% to close at $87.17. However, Alibaba, which raised $25 billion during its IPO last week, is still worth enough to make founder and executive chairman Jack Ma the richest man in China, according to The Wall Street Journal.

The tech-heavy Nasdaq Composite Index (RIXF) gave up its early gains to fall 19 points and close at 4,508, while the Philadelphia Semiconductor Index (SOX) also slipped into negative territory.

(Read more about the day's market activity in Movers & Shakers http://www.marketwatch.com/storyno-meta-for-guid.).

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