Apple, Amazon, Google shares hit new highs

PanARMENIAN.Net - Apple, Amazon and Google have had a good day so far as their stocks rose to new highs, CNET reports.

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, Sept 7 morning. Its Nexus 7 has been a tablet that has been well reviewed and 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 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 on the rise 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 the 8.8 percent rise in the Dow Jones Industrial Average. It's at its highest mark since 2000.