Apple Inc. And Twitter Inc Shares Boost Technology Sector

Apple Inc. And Twitter Inc Shares Boost Technology Sector
ElisaRiva / Pixabay

The stock price of Apple Inc. (NASDAQ:AAPL) and Twitter Inc (NYSE:TWTR) climbed today. Both companies helped lift the technology sector, which was pressured by the declines in the shares of Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT).

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Apple Inc. (NASDAQ:AAPL) gained more than 1% to $636.39 per share while Twitter Inc (NYSE:TWTR) increased over 2% to $32.47 per share as of 2:00 PM ET New York.

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Analysts raise Apple price target

Chris Caso, an analyst at Susquehanna, raised his price target for the shares of the iPhone and iPad maker from $650 to $725 per share, citing that the latest software announcements of Apple Inc. (NASDAQ:AAPL) are evolutionary, and will continue to strengthen its ecosystem.

Analysts at Canaccord Genuity and Credit Suisse also raised their price target for the stock. Geneuity Canaccord now has a price target of $710 per share, up from $660 a share, while Credit Suisse increased its price target to $600 per share.

Over the past three months, the stock price of Apple Inc. (NASDAQ:AAPL) has gained more than 19% from $527.76 last March 3 to its current trading price above $635.

Apple stock chart 3 months

Billboard Twitter Real Time Chart Is Now Live

Twitter Inc (NYSE:TWTR) and Billboard officially launched the Billboard Twitter Real Time Chart, which allows fans to interact with and influence popular content by ranking the most popular songs shared on the microblogging company’s platform.

Another positive factor probably lifting the stock price of Twitter Inc (NYSE:TWTR) is its recent agreement with Omnicom Group Inc. (NYSE:OMC). Omnicom agreed to pay Twitter for preferential access to its MoPub platform. The microblogging company acquired MoPub for $350 million in 2013 to attract more advertisers.

The stock price of Twitter Inc (NYSE:TWTR) is, however, still down by more than 52% year-to-date.

Twitter YTD stock chart

Google and Microsoft shares plummet

The stock price of Google Inc (NASDAQ:GOOG) were down more than 1.64%% to $544.94 per share and (NASDAQ:GOOGL) declined 1.67% to $544.91 per share as of 2:44 PM ET in New York.

The shares of Microsoft Corporation (NASDAQ:MSFT) were also down by more than 1% to $40.35 per share.

Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) is also reportedly planning to invest more than $1 billion on internet satellites to achieve its objective to provide internet access to remote or underserved regions of the world.

Meanwhile, Microsoft Corporation (NASDAQ:MSFT) recently hired Preston McAfee as chief economist. He was the former director of strategic technologies at Google.

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Marie received her Bachelors Degree in Mass Communication from New Era University. She is a former news writer and program producer for Nation Broadcasting Corporation (NBC-DZAR 1026), a nationwide AM radio station. She was also involved in events management. Marie was also a former Young Ambassador of Goodwill during the 26th Ship for Southeast Asian Youth Program (SSEAYP). She loves to read, travel and take photographs. She considers gardening a therapy.
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