By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Apple Inc. and GoPro Inc. were
among the notable tech stocks to rise Tuesday, but the overall tech
sector still found little in the way of upward momentum and added
to the prior-day's big losses by the time the market closed.
Apple (AAPL) rose 1.6%, to close at $102.64 as industry analysts
expressed more opinions on the likely impact of the company's new
Apple Pay digital payment service. Susquehanna analyst Chris Caso
said he thinks Apple Pay "is going to be a hit," and said it was
easier to use than Google Inc.'s Google Wallet offering. Apple
introduced Apple Pay earlier this month at an event in which it
also unveiled the new iPhone 6 and iPhone 6 Plus.
(Read more about analysts' views on Apple Pay in The Ratings
Game
http://www.marketwatch.com/story/analysts-have-high-expectations-for-apple-pay-2014-09-23.).
An Apple representative also told CNBC that it was "not true"
that the company was planning to shut down its recently acquired
Beats Music streaming service.
GoPro (GPRO) continued its recent gains, with its shares rising
almost 7% to close at $72.88. The digital-camera maker has been on
a run since last Thursday, when Google Inc. (GOOG) said it was
putting more money into YouTube in an effort to help some of the
video-sharing platform's stars create higher-quality content for
the site.
Mild gains also came from Netflix Inc. (NFLX), Yahoo Inc.
(YHOO), Amazon.com Inc. (AMZN) and Facebook Inc. (FB).
In Alibaba Group (BABA) news, the Chinese Internet leader's
recently-offered shares slipped by 3% to close at $87.17. However,
Alibaba, which raised $25 billion during its IPO last week, is
still worth enough to make founder and executive chairman Jack Ma
the richest man in China, according to The Wall Street Journal.
The tech-heavy Nasdaq Composite Index (RIXF) gave up its early
gains to fall 19 points and close at 4,508, while the Philadelphia
Semiconductor Index (SOX) also slipped into negative territory.
(Read more about the day's market activity in Movers &
Shakers http://www.marketwatch.com/storyno-meta-for-guid.).
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