Despite a surge from major technology stocks U.S. markets drifted lower Monday as treasury yields reached a two year high. “Wall Street hates uncertainty, and right now discerning the appropriate yield on the 10-year Treasury note is resulting in an awful lot of uncertainty,” said Sam Stovall, chief equity strategist with S&P Capital, in a recent note. The technology sector was kept afloat by gains from industry bellwethers Apple and Intel. Here is how some of the major tech stocks reacted Monday:
Apple Inc. (NASDAQ: AAPL) shares traded in the range of $504.00 to $513.74 Monday before settling to close at $507.74, an increase of 1.08 percent. The stock appears to have some support at the $503.60, $496.15 and $469.48. Shares surged last week after activist investor Carl Icahn disclosed he held a “large” stake in the company. Shares of Apple have gained approximately 20.0 percent in the past month.
More information on Apple and access to the free equity report can be found at:
www.WallStreetFundamentals.com/AAPL
Facebook Inc. (NASDAQ: FB) shares traded in the range of $37.14 to $38.28 Monday before settling to close at $37.81, an increase of 1.97 percent. The stock appears to be facing some resistance at the $39.19 and $44.04 levels with some support at $37.03. Janney Capital Markets has recently initiated coverage on the company with a “buy” rating. Shares of Facebook have gained approximately 46.0 percent in the past month.
More information on Facebook and access to the free equity report can be found at:
www.WallStreetFundamentals.com/FB
Intel Corporation (NASDAQ: INTC) shares traded in the range of $22.05 to $22.70 Monday before settling to close at $22.28, an increase of 1.67 percent. The stock appears to be facing some resistance at the $22.29 and $22.75 levels with some support at $21.90. Piper Jaffray has recently upgraded the stock to “neutral” from “underweight”. Shares of Intel have fallen approximately 3.3 percent in the past month.
More information on Intel and access to the free equity report can be found at:
www.WallStreetFundamentals.com/INTC
Google Inc. (NASDAQ: GOOG) shares traded in the range of $857.45 to $872.00 Monday before settling to close at $865.65, an increase of 1.02 percent. The stock appears to be facing some resistance at the $866.83 and $894.54 levels with some support at $859.10. Shares of Google have gained approximately 920 percent since its IPO on Aug. 19, 2004.
More information on Google and access to the free equity report can be found at:
www.WallStreetFundamentals.com/GOOG
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