Wall Street Beat: Tech pushes Nasdaq to 18-month high

18.03.2010

Reports on the computer sales front, meanwhile, continue to be positive. For example, 43 percent last month compared to February 2009, following a 36 percent year-over-year increase in January, the NPD Group reported this week.

Though the comparisons are to a period in which the hardware sector was at its recession low point, the increasing momentum of the sales figures is a good sign. Apple shares hit a record US$226.60 on March 12, retreating slightly to close at $224 Thursday.

The next round of quarterly sales reports are not due to start in earnest for another month. Meanwhile, the financials that are coming in are encouraging. This week, there was a silver lining in Palm's . Though the company, as expected, lost money, losses were narrower than a year ago as sales increased. The company on Thursday said that net losses for the quarter ended Feb. 28 were $18.5 million, compared to $95 million a year earlier, as sales rose to $350 million from $91 million. Shares of Palm rose $0.28 to close at $5.65 Thursday, and rose slightly in after-market trading.