Intra-Day Update On Selected Picks; (NASDAQ: CSCO), (NASDAQ: AAPL).
Cisco Systems Inc. (NASDAQ: CSCO), a designer, manufacturer and seller of Internet protocol-based networking and other products related to the communications and information technology industry, is amongst the major gainers on NASDAQ in mid-day trading today. CSCO is currently trading 1.02% higher at $19.36 on volume of 18.26 million, which is less than half the daily average volume of 42.50 million.
CSCO has been gaining momentum for the last two weeks. The stock has already broken through $19 resistance level and is now headed towards its 52-week high of $21.30. CSCO has been gaining momentum after the company reported its quarterly results.
Apple Inc. (NASDAQ: AAPL), the Cupertino, California-based technology giant, is down sharply in mid-day trading today. AAPL is currently down 4.06% to $552.49 on volume of 20.99 million. The stock has now fallen nearly 6% for the week.
AAPL is falling in trading today after research firm International Data Corp. said that the company would lose market share in the tablet computer space for all of 2012.
AAPL has had a difficult time ever since the stock hit an all-time high of $705.07 in September. The stock fell sharply from its all-time high before making a slight recovery in mid-November. However, the stock has failed to break through $600 and slipped once again. The downward slide could continue before the stock finds support at around $540.
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