google backs htc, taiex closes above the 8,700 mark wall street rallied on thursday and asian stocks rebounded. taiwan’s stock market was the star, as the taiex rose 181 points to 8,706. this year is a bull market.
apple stock price google, after eight days of net selling foreign investors bought a nt$5.2 billion worth of shares, the main reason taiwan’s stocks rose. htc, the former darling of the taiwanese stock market,
had, after being sued by apple for patent infringement, seen the value of its shares plummet although the company tried to prop up its share price by buying back its own shares. “give us our money back!†but google, the head of the android camp, on wednesday jumped to htc's defense. "we will take on apple together." htc has a supporter.
investors are suddenly bullish on its stock on thursday it jumped to a price of nt$37.5 per share. before trading was suspended. investors are all happy now. but android’s enemy, apple, is not holding anything back. on tuesday apple reported a more than doubling of net profits to us$7.3 billion. its share price is at an all-time high.
apple’s taiwanese allies, including radiant, simplo, kinsus and compeq, are waiting for their master to distribute his largesse. "we serve you, lord." the fight between the two camps is bound to get worse. the strong interest in htc was unexpected, but grounded in market fundamentals. however, investors may pull back from apple
and reevaluate their positions. apple action new�
