By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks advanced Tuesday, as
Google Inc. marked the 10th anniversary of its initial public
offering and Apple Inc. reached its highest levels of the year.
Google (GOOGL) shares rose almost 1%, to $596.75. When the
company went public 10 years, many investors were skeptical about
the stock. But a $10,000 investment in 2004 would be worth almost
$140,000 today. Some Google watchers say more growth lies ahead for
the company's shares.
Rackspace (RAX) was up by more than 4%, at $33.18 a share. Late
Monday, activist investor Blue Harbour Group disclosed it has
increased its stake in the cloud-services and hosting company to
6.5% from 2.5% in June.
Apple (AAPL) rose to a 52-week-high of $99.94. Apple shares have
risen more than 8% since the company enacted a 7-for-1 stock split
on June 9.
Hewlett-Packard Co. (HPQ) was up by 13 cents a share at $35.48
ahead of the tech giant's quarterly earnings report, due after
Wednesday's market close. Read what to expect here.
The tech-heavy Nasdaq Composite Index (RIXF) rose 12 points to
4,520 and the Philadelphia Semiconductor Index (SOX) was up by
almost 1%. Also read: Three reasons to sell some big tech names
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