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Tech industry carries on: US stock performance will continue upwards this week
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US stocks rose the most in more than three months this week on expectations profits at technology companies such as Apple Inc. and Microsoft Corp. will increase as new products prompt consumers and businesses to spend more.
Apple, whose iPod dominates the market for music players, climbed to a record after unveiling its iPhone mobile phone. Microsoft, which will start selling its Windows Vista software to consumers this month, jumped after strategists at UBS AG and Bear Stearns & Co. upgraded their recommendations on the industry.
Tech industry has a big impact. It's one of those industries where you can create a new product.
Alcoa Inc. led the Dow Jones Industrial Average to an all- time high after the world's biggest aluminum maker posted quarterly profit that exceeded analysts' estimates. Stocks also got a boost as oil prices slumped to a 19-month low. The Standard & Poor's 500 Index gained 1.5 percent to 1430.73, the biggest weekly advance since the period ended Sept. 29 and the highest close in six years.
The Dow average added 1.3 percent to a record of 12,556.08. The Nasdaq Composite Index, which gets more than two-fifths of its market value from computer-related companies, had the biggest climb of the three gauges with a 2.8 percent increase to 2502.82. That's a level not seen since February 2001.
A gauge of technology shares has rallied 4.2 percent this year for the biggest gain among the S&P 500's 10 industry groups, after lagging behind the broader market last year. This week, the measure jumped 2.7 percent to the highest in five years.
iPhone, Windows Vista
Apple climbed 11 percent to $94.62 and closed at a record of $97 on Jan. 10. The iPhone, which Chief Executive Officer Steve Jobs introduced this week in San Francisco, combines Apple's iPod music and video player with a mobile phone and wireless Internet access for e-mail. The company said it may sell 10 million units in 2008.
Microsoft, the world's largest software maker, jumped 5.3 percent to $31.21. The new version of the software running 95 percent of the world's personal computers, delayed by two years, was rolled out by the company to businesses in November and will be sold to consumers starting Jan. 30.
Intel Corp., the world's largest maker of semiconductors used in personal computers, added 4.9 percent to $22.13.
Companies that make computers, mobile phones, software and semiconductors will generate almost 18 percent profit growth this year on average, double the average for S&P 500 companies.The only thing can stop the increase of the stock market for a short term, seems either FED or either a new situation in middle east. In both cases 2007 will be a profitable year. |
| Tarih
: 15.01.2007 |
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© 2006 Mert TOKER All Rights Reserved. |
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