The shares of Alibaba Group Holding Ltd will start trading at the NYSE on Friday and a day before the launch of the biggest IPO offering, Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), and Oracle Corporation (NYSE:ORCL) lead the tech market gains.
Apple Inc. (NASDAQ:AAPL)’s shares rose $0.21 closing at $101.79, as the company announced its plan to release the sixth generation iPad followed by the third edition iPad Mini this year. Further, Apple Inc. (NASDAQ:AAPL) plans on launching its latest Mac OS, OS X Yosemite, which is likely to have a completely new visual look, later this year.
Amazon.com, Inc. (NASDAQ:AMZN) was another major stock with a $1 increase in its share price post its announcement of six new devices including Kindle Voyage, premium Kindle device from Amazon, and Kindle Fire HD tablet at a price of $99. Amazon.com, Inc. (NASDAQ:AMZN) is aiming to increase its tablet market share with Kindle Fire HD tablet. Lately, Amazon has released several new products including new Kindle devices, Fire Smartphone, and even a set-top box to increase its existing customer base.
Amazon.com, Inc. (NASDAQ:AMZN) has, time and again, released low-priced devices to entice customer to their ecosphere only to make money out of their content services. The company is likely to broadcast shows on its high-end devices provided it finalizes the terms with HBO.
It was an excellent trading day for Oracle Corporation (NYSE:ORCL) with 1% increase in its share prices after posting excellent revenues for its cloud services for Q1 fiscal 2015. However, the shares rallied 2% backwards after CEO Larry Ellison stepped down from the post of CEO. Ellison will work as the chief technology officer and chairperson of the board of directors of Oracle Corporation (NYSE:ORCL). Long-time executives Mark Hurd and Safra Catz are named as the two new CEOs of the company.
This article has been written by Prakash Pandey.