Home Technology Apple, Amazon, & Google Rise, As Facebook Falters

Apple, Amazon, & Google Rise, As Facebook Falters

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Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), and Amazon.com, Inc. (NASDAQ:AMZN) have all had a great day today, as each of them attained new highs in share price on the market. Apple Inc. (NASDAQ:AAPL) passed $680 for the very first time, and seems to be easily driving towards the $900 target that Gene Munster had previously set for it. The anticipation of the soon to be launched iPhone 5 and the possibility of an iPad Mini seem to be fueling Apple’s shareholders and the stock price soars.

Apple, Amazon, & Google Rise, As Facebook Falters
Source: Pixabay

Amazon.com, Inc. (NASDAQ:AMZN) has also set a new record high, in the wake of launching its new Kindle line of e-readers yesterday. These new tablets offer a stiff competition to the pricey cost of the iPad and also to Google’s Nexus 7 tablet. Amazon has made a strong showing in the market, as their innovation of the new front lit Paperwhite Kindle seems to have attracted much attention from the press.

Another record was set by Google today, as their price passed its high water mark of 2007, and topped $700. The Nexus 7 tablet received rave reviews and has sold well, although that could change to some extent, now that Amazon has released its new line of Kindles. Google Inc (NASDAQ:GOOG)’s market cap touched $232 billion earlier today.

It isn’t all peaches n cream on the tech front today though, as Pandora has dropped due to reports of a new music service, launched by Apple Inc. (NASDAQ:AAPL). This new service has caused stock to fall by as much as 18%, according to CNet.

Facebook Inc (NASDAQ:FB) is also suffering, as it still teeters on the edge of a cliff it has already slid partway down. The company offered its shares at $38 during its May 18th IPO, and it has dropped to less than $18 per share in the wake of the horrible issues suffered on that day. Analysts also state that Facebook Inc (NASDAQ:FB) has not properly monetized nor focused on its mobile platform as its counterparts have done. This lack of action in the mobile sector is a major contributor to the fall in price, as well as the fact that lockups have started to expire, and millions of shares are expected to flood the market in coming months.

The NASDAQ, which is a technology focused exchange, has risen more than %20 this year. Analysts say this is largely due to Apple Inc. (NASDAQ:AAPL), and the huge effects it has on the Tech sector. The Dow Jones has shown only an 8.8% rise, while the NASDAQ is now at its highest point since the year 2000.

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