TECH STOCKS: Google, Apple Gain Ground As Tech Stocks Rise

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks put in a generally upbeat market performance Tuesday, as Google Inc. marked the 10th anniversary of its initial public offering and Apple Inc. shares put in their all-time highest close.

Google (GOOGL) shares rose almost 1% to close at $597.11. When the company went public 10 years ago, many investors were skeptical about the stock. But a $10,000 investment in 2004 would be worth almost $140,000 today. Some Google watchers say more growth lies ahead for the company's shares.

Apple (AAPL) rose to as high as $100.68 a share, before closing with a gain of 1.4% at $100.53. It was Apple's highest all-time closing point. Apple shares have risen more than 9% since the company enacted a 7-for-1 stock split on June 9.

Rackspace (RAX) ended the day up by 2.7%, at $32.67 a share. Late Monday, activist investor Blue Harbour Group disclosed it has increased its stake in the cloud-services and hosting company to 6.5% from 2.5% in June.

Hewlett-Packard Co. (HPQ) rose 14 cents a share to close at $35.48 ahead of the tech giant's quarterly earnings report, due after Wednesday's market close. Read what to expect here.

The tech-heavy Nasdaq Composite Index (RIXF) rose 12 points to 4,520 and the Philadelphia Semiconductor Index (SOX) was up by almost 1%. Also read: Three reasons to sell some big tech names

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