Tech Stocks Start May With A Bang, Apple Climbs, RIMM Tumbles
The Nasdaq was up 0.8% in recent afternoon trading, as tech stocks bounced back from yesterday’s doldrums. Apple (AAPL), which lost more than 3% yesterday, traded up as much as 2.2% in morning trading before giving up some ground; it’s currently up about 1%. The company defended its tax practices after they were highlighted by [...]

The Nasdaq was up 0.8% in recent afternoon trading, as tech stocks bounced back from yesterday’s doldrums.

Apple (AAPL), which lost more than 3% yesterday, traded up as much as 2.2% in morning trading before giving up some ground; it’s currently up about 1%. The company defended its tax practices after they were highlighted by the New York Times; however, it was overtaken by Samsung (005930KS) in the world smartphone market (it now sits at No. 2 in the global rankings) and a long-time insider sold nearly $39 million in stock on Friday, recent filings showed.

Recently both Intel (INTC) and Hewlett-Packard (HPQ) were both up more than 2%, among the top performers in the Dow.

Elsewhere, ADP (ADP) was falling in recent trading despite making headway earlier on a solid earnings report. Expedia (EXPE) was tumbling on an analyst downgrade that noted the stock could take a 20% haircut.

Research In Motion (RIMM) was another name going against the bullish tide, sagging 4.3%  as it kicked off its BlackBerry World conference in Florida.

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