Shares of major tech companies like Cisco (Nasdaq:CSCO), Applied Materials (Nasdaq:AMAT), Intel (Nasdaq:INTC), AMD (NYSE:AMD) took a beating Monday after the overall industry was downgraded and uncertainty continues to cloud the future of the sector.
Of the companies listed, Cisco Systems was able to rebound the most after dropping to a 52-week low of $18.03. Cisco closed Monday at $18.20, falling $0.20, or 1.09 percent.
Applied Materials closed the day at $15.96, down $0.77, or 4.60 percent. They dropped as low as $15.74 on the day.
Advanced Micro Devices Inc. closed at $8.84, down $0.39, or 4.17 percent. They traded down to $8.74 before a slight rebound.
Intel Corp. dropped as far as $21.08 before ending the trading session at $21.21, falling $0.35, or 1.62 percent.
Tuesday, March 8, 2011
Cisco (CSCO), Applied Materials (AMAT), Intel (INTC), AMD (AMD) Crunched on Tough Tech Day
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1 comment:
Time for a rebound... am not sure how the industry can be downgraded, when it appears that shipments of processors are up 14% vs last year??
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