14/12/2012 16:31:00

TECH STOCKS: Apple's Losses Keep Pressure On Tech Stocks

Related content
Related debate
24 Oct - 
Ja, flot regnsab
23 Oct - 
Slår forventningerne, og stiger forventeligt p&ae..
10 Oct - 
Hvis det gør dig glad at tro det..

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- With Adobe Systems Inc. in the lead, many tech stocks appeared headed for a day of gains Friday, but losses from tech giant Apple Inc. continued to weigh on the overall sector.

Apple (AAPL) shares fell more than 3% to $512.40. Before the start of trading, UBS analyst Steven Milunovich cut his price target on Apple's stock to $700 a share from $780.

In a research note, Milunovich said he was taking a slightly more conservative view on Apple due to supply chain checks that suggest a decline in iPhone production in the March quarter of 2013, and that the new iPad mini could be cannibalizing some sales of the iPad.

With Apple's losses leading the way, the Nasdaq Composite Index (RIXF) fell more than 15 points to 2.976. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index each dipped into the red.

VeriFone Systems Inc. (PAY) shares fell almost 11% to $29.62 after the payment-processing technology company reported a wider quarterly loss late Thursday.

Losses also came from Dell Inc. (DELL), Microsoft Corp. (MSFT), Seagate Technology (STX) and Qualcomm Inc. (QCOM).

Adobe Systems (ADBE) shares rose almost 5% to $37.25 after the software company reported better-than-expected quarterly earnings after the close of trading on Thursday. Adobe earned 61 cents a share, excluding one-time items, on $1.15 billion in revenue, while analysts has forecast the company to earn 57 cents a share, on sales of $1.1 billion.

Groupon Inc. (GRPN) share rose more than 4%, to as high $5.10, making the first time the online daily deal and e-commerce company's stock had been above $5 since Oct. 18.

Other gainers included Oracle Corp. (ORCL), IBM Corp. (IBM), Yahoo Inc. (YHOO) and Nvidia Corp. (NVDA).

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

December 14, 2012 11:31 ET (16:31 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Post comment

Related debate

  • 1 week
  • 1 month
  • 1 Year
20 Oct
AAPL
IIIIIGEEEEEEEN IGEEEEN kommer de med et fremragende regnskab, hvornår lære i det ;-) ?
2
20 Oct
AAPL
godt godt regnskab: -------------- CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple® today announced finan..
2
22 Oct
YHOO
Godt at være lastet her. De vil uddele baba med lav skat. Deres Core business turn around ser ud til..
1
21 Oct
YHOO
de har lavet et prepaid buyback for over 1 mia. $ med en del af pengene. de har dermed købt 3% af al..
1

Regulatory news

Tech Companies Send Criticism Along With NSA-Related Data -- Update

04/02/2014 00:06:00
By Danny Yadron Technology companies including Google Inc. and Microsoft Corp. released new figures on the amount of data requests they received from U.S. ..

U.S. Hot Stocks: Hot Stocks to Watch

03/02/2014 14:07:00
Among the companies with shares expected to actively trade in Monday's session is Herbalife Ltd. (HLF). Herbalife Ltd. (HLF) raised its fourth-quarter outl..

Pfizer Study Meets Primary Endpoints

03/02/2014 13:05:00
Pfizer Inc. (PFE) said Monday that a Phase 2 trial of its advanced breast cancer treatment met its primary endpoint. Pfizer said a study comparing the effec..

Most read news

  • 24 hours
  • 48 hours
  • 1 week
1
VRINGO ANNOUNCES ZTE REQUEST FOR RELEASE OF DETAINED PRODUCTS DENIED BY PRESIDENT OF DISTRICT COURT OF THE HAGUE, NETHERLANDS
2
Atos wins "Top French Investor" category in competition for best foreign investors in Poland
3
Valmet's Interim Review January 1 - September 30, 2014: Profitability continued to improve and is moving towards the targeted level
4
Ahlstrom simplifies its structure and organization for faster execution and profitability improvement
5
Italy's Rai Way Selects Net Insight for Nationwide Video Contribution Network

Related stock quotes

Microsoft Corporation 46.13 2.5% Stock price increasing
Apple Inc 105.22 0.4% Stock price increasing
Yahoo Inc 43.50 2.1% Stock price increasing
International Business M.. 162.08 -0.1% Stock price decreasing
Qualcomm Incorporated 76.00 1.1% Stock price increasing
Nvidia Corporation 18.48 1.1% Stock price increasing
Adobe Systems Incorporat.. 67.01 1.7% Stock price increasing
VeriFone Systems Inc 34.41 1.1% Stock price increasing
Seagate Technology 58.36 3.3% Stock price increasing
IBM COM STK USD0.20 161.78 -0.4% Stock price decreasing
Microsoft Corp SPL 47.88 3.2% Stock price increasing
IBM 205.00 0.0% Stock price unchanged

Buy and sell signals

  • Trend
  • Moneymachine

Related companies
Get access to information and recommendations of related companies with our PLUS package.

You get access to 7 valuable investment tools.

Click here to read more about the PLUS package.
Euroinvestor around the globe: Euroinvestor.dk | Euroinvestor.se | Euroinvestor.no | Euroinvestor.fr | Forexinvestor.com| Wisselkoersen.nl | Valuta.se | Valutaveksel.no | Divisas.es | Valute.it
Copyright Euroinvestor A/S 2014   Disclaimer and Terms of Use
Quote information is delivered by Interactive Data.
Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
 
25 October 2014 05:11:23
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20141024.3 - EUROWEB3 - 2014-10-25 06:11:23 - 2014-10-25 05:11:23 - 1000 - Website: OKAY