Apple Holds Up on Facebook IPO Day

Shares of Apple AAPL are holding up. Currently, the tech giant is trading near $532, up about 0.5% on the session. While shares had briefly dipped into the red after the open, they have stayed in the green for the majority of the session. This stands in stark contrast to a lot of other tech names, particularly Zynga ZNGA. Shares of Zynga have been halted twice, as the social game maker has plummeted over 13% on the current session. LinkedIn LNKD is down about 5%, and Google GOOG shares are trading lower as well. Yahoo! YHOO is up, but is likely elevated by news that the company is moving towards selling its Ali Baba assets for several billion dollars. There was some speculation that traders could have been moving capital out of Apple in recent weeks in anticipation of the Facebook IPO. Apple shares have pulled back in recent weeks, falling from around $640 to their current price.