The Buzz

All markets and investing news all the time

EA stock gets iPhone 5 bump

September 12, 2012: 2:34 PM ET

Shares of Apple (AAPL) barely budged while the company was unveiling the iPhone 5 Wednesday afternoon. But gaming company Electronic Arts (EA) enjoyed a nice little bump after one of its racing games was featured during the event.

EA's stock was down slightly just before the Apple press conference again and then immediately spiked more than 2% as soon as people started raving in live blogs and on Twitter about how cool the game looked.

EA was not the only stock that was moving on the iPhone 5 news. Shares of semiconductor company Rubicon Technology (RBCN) popped nearly 3% after Apple showed off the iPhone's new camera, which featured sapphire crystal display technology. Rubicon is a leader in that field but it is unclear if Apple's camera was using any products from Rubicon.

Shares of other chip companies known to be part of the Apple ecosystem also moved higher. Qualcomm (QCOM), Cirrus Logic (CRUS) and ARM Holding (ARMH) were each up more than 1%.

It probably makes some sense for component makers and software firms like EA to get some lift thanks to a coveted blessing from Apple.  Shares of the big U.S. carriers that offer the iPhone -- Verizon (VZ), AT&T (T) and Sprint (S) -- were also up more than Apple.

But let's be honest here. If you think the iPhone 5 is going to be a big hit, the best stock to own to play that is Apple.

Join the Conversation
Fear & Greed
Sponsored by
About This Author
Paul Lamonica
Paul R. La Monica
Assistant Managing Editor, CNNMoney

Paul R. La Monica is an assistant managing editor at CNNMoney. He is the author of the site's daily column, The Buzz, and also tweets throughout the day about the markets and economy @LaMonicaBuzz. La Monica also oversees the site's economic, markets and technology coverage.

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, Urban Outfitters may be finally turnings things around. But $URBN up 17%? Seems a bit excessive, no?
Most Popular
Powered by VIP.