Facebook Zips Higher: Tech Winners & Losers
NEW YORK (TheStreet) -- Facebook (FB) shares continued their torrid pace to 2013, gaining another 1.25% to trade at $30.97 just days before its secret press event.
Facebook sent out invites to the press earlier this week, saying "Come and see what we're building." It's unknown at this point what Facebook will announce, but many are expecting big news from the social media giant.
Facebook's stock has gotten off to a strong start in 2013, gaining 20.09%, as investors feel more confident and bullish about the company's short and long-term prospects for generating revenue.
Nokia (NOK) shares were enjoying a strong day, gaining 18% to reach $4.43 on the back of strong Lumia sales. Nokia said it sold 4.4 million units of the Lumia, -- up from 2.9 million in the previous quarter.
However, the Finnish company also noted that seasonality and increased competition will negatively affect its handset division, when compared to the final three months of last year.
Apple (AAPL) shares were little changed, after having been up more than 2% earlier in the session. News came that CEO Tim Cook met with China Mobile (CHL) Chairman Xi Guohua to discuss "matters of cooperation."
Apple has noted on several occasions that China is an exceptionally important market for the company, and signing a deal with China Mobile would bolster its presence in the country. China Mobile is the largest cell-phone carrier in the world, with more than 700 million subscribers.
There are also rumors suggesting that Apple may make a cheaper iPhone, trying to expand into the sub-$400 smartphone market to capture market share.
The Close: Facebook ends at $31.30, up 71 cents or 2.32%; Apple ends at $523.51, up $6.41 or 1.24% and Nokia lands on $4.45, up 70 cents or 18.67%.
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