Apple, Amazon, Google riding high on Wall Street

The Nasdaq has risen to its highest level since 2000, thanks largely to Apple's incredible growth.

Tablet maker stocks rising Yahoo Finance

Apple, Amazon and Google have had a good day so far, with their stocks rising to new highs. Apple cracked $680 for the first time on its way to who knows how high in anticipation of the Sept. 12 iPhone 5 launch and a possible iPad mini introduction later this month. The company's market cap rose above $635 billion.

Amazon hit another all-time high following the introduction of its new Kindles, which are much more competitive with the iPad and other tablets than expected. The stock zoomed above $258 in this morning's trading.

Google also hit its highest price since December 2007, crossing $700 Friday morning. Its Nexus 7 tablet was well reviewed and has sold briskly, but in the wake of Amazon's new Kindles and Apple's rumored smaller iPad, that success could be compromised. Google's market cap closed in on $232 billion earlier today.

While Apple is rising, Pandora is falling , based on reports of a rival music service from Apple. The stock was down 18 percent as of 8:30 a.m. PT. Facebook, which went public in May at $38 per share, is edging back up after falling below $18 earlier this week.

Thanks to Apple, the tech-centric Nasdaq is now up more than 20 percent this year, compared to a comparable 8.8 percent rise in the Dow Jones Industrial Average. It's at its highest mark since 2000.

About the author

Dan has more than 20 years of journalism experience. He has served as editor in chief of CBSNews.com, CNET News, ZDNet, PC Week, and MacWeek.

 

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