Thursday, April 14, 2011

Intel (INTC) (DELL) (HPQ) Pressured on PC Slowdown

The slowdown in PC sales has arrived sooner than expected, pushing the share price of Intel (NASDAQ:INTC), Dell (NASDAQ:DELL) and Hewlett-Packard (NYSE:HPQ) down on the day.

Intel was downgraded by Roth Capital to "Neutral," citing slow progress with tablets and smartphones, along with PC sales slowing down.

Reports from IDC and Gartner saying that PC sales unexpectedly dropped was another pressure on the sector, although in this case it probably wasn't from increased tablet sales, but economic concerns.

Hewlett-Packard was trading at $40.17, falling $0.96, or 2.33 percent, as of 1:56 PM EDT. Dell was trading at $14.90, dropping $0.52, or 3.34 percent. Intel was at $19.48, down $0.30, or 1.52 percent.

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