Shares of tech companies are taking a beating today on weakness in the semiconductor sector, as Lam Research (NASDAQ:LRCX), Micron Technology (NASDAQ:MU), Advanced Micro Devices (NYSE:AMD), Oracle (NASDAQ:ORCL), Broadcom (NASDAQ:BRCM), Cisco (NASDAQ:CSCO) and Qualcomm (NASDAQ:QCOM) were all trading down.
That has also driven down the Nasdaq Composite today, which was also hit by the plunge in share price of Sears Holdings (NASDAQ:SHLD), which has plummeted almost 10 percent after weak guidance.
As for the chip and tech sector, most of that is being driven by chatter about the probability of the chip industry being spotty going forward, which will slow down a lot of chip companies, and by extension, other tech companies.
Intel (NASDAQ:INTC) and Microsoft managed to trade in positive territory among tech stocks today.
Tuesday, May 3, 2011
Techs (QCOM) (MU) (CSCO) (LRCX) (AMD) (ORCL) (BRCM) (NVDA) Getting Crushed Today
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1 comment:
Spotty???? Give me a break, typical Wall St bullshit. Chips by Qualcomm and others are being brought down shotty Wall St snake oil traders. More smoke and mirrors to cost the small investors big time.
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