By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Apple and Twitter shares rallied
to give the technology sector a boost Tuesday, even as the group
was weighed down by slumping shares of Microsoft and Google.
Apple (AAPL) rose 1.3% to $637.01, a day after the iPhone maker
unwrapped new software initiatives at its developer conference in
San Francisco.
Susquehanna analyst Chris Caso raised his price target for Apple
to $725 from $650, and said the company's software announcements
are "mostly evolutionary changes that continue to strengthen the
Apple ecosystem."
Twitter (TWTR) gained 2.4% to $32.53, as the social network's
stock turned positive for the week. Twitter is still down nearly
50% year-to-date.
Chip stocks also were mostly up, with shares of Broadcom Corp.
(BRCM) gaining nearly 2% and Intel Corp. (INTC) up a fraction. The
Philadelphia Semiconductor Index (SOX) edged higher by 1%.
But the Nasdaq Composite Index (RIXF) was mostly flat, last down
2 points, at 4,235. Among the notable decliners were Google
Inc.(GOOGL) and Microsoft Corp.(MSFT), each down 1%.
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