By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Google Inc. led a tech sector
upturn on Tuesday afternoon, with its stock jumping more than 1% to
cross the $800 mark for the first time ever.
Meanwhile, shares of Apple Inc. (AAPL) slipped by a faction.
Reuters reported that the company's computers were hit by a hacking
attempt, but that no personal data was stolen.
Google (GOOG) traded up 1% at $801 by early afternoon, after
rising to an intraday high of $804. The stock has gained more than
13% this year and has jumped more than 30% over the past 12 months.
The company's valuation, however, remains below that of many of its
Internet peers.
Google's gains come as the company is facing heightened scrutiny
from privacy regulators in Europe, according to a media report
Tuesday. Regulators from France and other European Union countries
are considering a coordinate "repression action" against the
company after Google failed to answer concerns raised by EU
regulators late last year, The Wall Street Journal reported, citing
a privacy watchdog in France.
Other tech shares posted solid gains, as the Nasdaq Composite
Index (RIXF) moved up 0.3%, to 3,202. The Morgan Stanley High Tech
35 Index (MSH) rose by 0.3% while the Philadelphia Semiconductor
Index (SOX) added 0.7%.
Google's rally was also seen with other Web stocks. Netflix
(NFLX) rose by 2.5%, Facebook (FB) picked up more than 2% and Yahoo
(YHOO) was up 1.3%.
Shares of Dell Inc. (DELL) were trading flat ahead of the
company's fiscal fourth-quarter earnings report due after the
closing bell.
Sony's (SNE) U.S.-listed shares were trading up 2.3%. The
company is expected to unveil what is believed to be the
PlayStation 4 console at an event in New York City on Wednesday
evening.
Hewlett-Packard Co. (HPQ) shares rose nearly 1% at $16.96 to
lead other Dow components. The Dow Jones Industrial Average (DJI)
was up 51 points.
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