TECH STOCKS: Apple Closes With Gains After 7-for-1 Stock Split

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Apple Inc. finished higher Monday, as investors showed their support for the iconic consumer electronics company after it began trading following a 7-for-1 stock split.

Apple (AAPL) rose 1.6% to close at $93.70 after earlier reaching a split-adjusted 52-week-high of $93.88 after what was Apple's first stock split since February 2005. Analysts say now that the split is over, the company likely will get down to the business of following up on Chief Executive Tim Cook's word that Apple will enter some new product categories this year.

While Apple's split grabbed much of the day's spotlight, two Massachusetts-based chip companies did their part to get some attention as well.

Analog Devices Inc. (ADI), of Norwood, Mass., rose almost 5% to close at $55.31, and Chelmsford, Mass-based Hittite Microwave Corp. (HITT) ended the day with a gain of almost 29%, at $77.90 a share, after Analog Devices said it would acquire Hittite in a deal valued at $2 billion.

Analog Devices specializes in semiconductors used in automobiles, smartphones and TVs, while Hittite is known for chips made for signal processors and wireless communications products.

Among other tech stocks, gains came from Hewlett-Packard Co. (HPQ), Groupon Inc. (GRPN), Google Inc. (GOOGL) and Twitter Inc. (TWTR).

The Nasdaq Composite Index (RIXF) rose almost 15 points to close at 4,336 and the Philadelphia Semiconductor Index (SOX) also edged its way into positive territory.

More must-reads from MarketWatch:

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