HEXUS.sharewatch: big weeks for Google and Apple

While it's already established that the mobile Internet is where much of the tech action will be for the foreseeable future, boosts to the share prices of its two biggest players - Google and Apple - serve to cement that feeling further.

Last week Google reported its Q3 results and they generally exceeded expectations, so much so that its shares jumped 11 percent as soon as trading commenced on Friday. In the past you might have expected such results to be priced into Google's shares in advance, but Google isn't the sexy tech stock it once was.

Its Q3 results, however, may well designate Google sexy once more. The reason is: diversication. Yes, Google is still coining it from its core keyword advertising, but it's also already getting a ton of cash from display and mobile, making the AdMob acquisition already look like a bargain. These markets are still at their relative infancy, so things bode well for Google.

The stock that supplanted Google as the darling of investors is 34 year old Apple, thanks entirely to its mobile products. While the iPhone continues to go from strength to strength, sales of the iPad continue to beat even the most optimistic forecasts.

Apple's shares shot past $300 last week and its market cap is approaching $300 billion. It is currently the second biggest company in the world by market cap behind Exxon Mobil. Apple announces its figures this week and the uplift is probably in anticipation of another expectation-beating quarter.

It's interesting to see that Intel's were the only shares on our list to fall last week, despite it reporting another strong quarter.