By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Shares in Apple Inc. reached a
52-week high following a 7-for-1 stock split.
Apple's (AAPL) rose almost 2%, to $93.84 a share as investor
looked to buy the company's stock after it implemented the stock
split. It was the first time Apple split its shares in more than
nine years.
The positive reaction pushed Apple shares up 1.7% to a
split-adjusted 52-week-high of $93.82.
Analysts say now that the split is over, the tech 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 5% to $55.39,
and Chelmsford, Mass-based Hittite Microwave Corp. (HITT) was up
more than 28%, at $77.94 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 IBM Corp. (IBM),
Groupon Inc. (GRPN), Google Inc. (GOOGL) and Twitter Inc.
(TWTR).
The Nasdaq Composite Index (RIXF) rose 12.5 points to 4,333 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
A stock-market forecaster with a 14-year winning streak
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