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:
Four negative data points from Apple post-split trading
Here's the case for buying Apple stock
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