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Tech stocks hit all-time high

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Nasdaq

Larry Barrett ZDNet.co.uk

Published: 26 Feb 1998 11:51 GMT

Analysts credited the rally to benign statements by Fed chairman Alan Greenspan as he wrapped up his congressional testimony without incident.

Microsoft Corp. (MSFT) shot up $2.81 per share to $84.94. Oracle Corp. (ORCL) shed 13 cents per share to $26.06 while Netscape Communications Corp. (NSCP) trimmed 69 cents per share to $19.31. Sun Microsystems Inc. (SUNW) gained $1.88 per share to $46.44.

Among most technology sectors, big gains were the order of the day. Even the erratic semiconductor equipment stocks made strides Wednesday as Applied Materials Inc. (AMAT) gained $1.38 per share to $37.38. Lam Research Corp. (LRCX) picked up $1.81 per share to $29.69 and Novellus Systems Inc. (NVLS) shot up $3.75 per share to $49.

Dell Computer Corp. (DELL) keeps rolling, up $1.50 per share to $129.94. Compaq Computer Corp. (CPQ) slipped 38 cents to close at $33.94 and Gateway 2000 Inc. (GTW) improved $1.63 per share to $42.88. Apple Computer Inc. (AAPL) gained $1 per share to $22.31.

Cisco Systems Inc. (CSCO) rose $2 per share to $66.75. 3Com Corp. (COMS) snapped up $2.50 per share to $35.13 and Ascend Communications Inc. (ASND) grabbed another 56 cents to close at $36.25. Bay Networks Inc. (BAY) also picked up 56 cents to $31.56.

America Online Inc. (AOL) shed 31 cents to $118.75. Yahoo! Inc. (YHOO) nudged up 19 cents to $61.72 while Lycos Inc. (LCOS) and Excite Inc. (XCIT) finished up $2.06 and $1.81 per share, respectively.

Among other widely held issues, Intel Corp. (INTC) picked up $1.63 per share to $42.88; Advanced Micro Devices Inc. (AMD) rallied up $1 to $21.69 and IBM Corp. (IBM) shot up $2.13 per share to $104.63.

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