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Shares of Apple (NASDAQ:AAPL) closed 2.5 percent in the red on Tuesday, but edged slightly higher in late afternoon trading. Jefferies analyst Peter Misek explains that Apple may be close to solving its component constraints problem after adding Sony (NYSE:SNE) to the list of suppliers for the in-cell displays used in the iPhone 5. Expanding the list, which also includes LG Display (NYSE:LPL) and Japan Display, has “alleviated what was the main bottleneck” in the production of the phone, writes Misek in a note to investors on Tuesday.
Google (NASDAQ:GOOG) shares reached another all-time high during Tuesday trading. Citigroup analyst Mark Mahaney recently raised his price target on the search engine giant to $850 from $740, citing “abating” competition. Capstone Investment analyst Rory Maher also increased his price target on Google to $910 from $830.
Yahoo! (NASDAQ:YHOO) shares edged slightly higher in late afternoon hours. The company announced that Tim Morse, chief financial officer, will be leaving the company. He will be replaced by Ken Goldman effective October 22. Morse has been with Yahoo since 2009.
Investor Insight: Google Searches and Finds a New All-Time High
Shares of Microsoft (NASDAQ:MSFT) fell in late Tuesday trading. According to a Bloomberg report, Intel (NASDAQ:INTC) Chief Executive Officer Paul Otellini told employees in Taiwan that Windows 8 is being released before it is completely ready.
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