14/12/2012 16:31:00

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

Related content
Related debate
12:25 - 
Jim Cramers statement om AAPL: "dont trade Apple - own ..
20 May - 
så meget kan dollar altså ikke stige i v&ae..
20 May - 
i så fald har du været død i 10 &ari..

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 May
Det vil jeg skide på om 39 år. Der er jeg 91 eller 92 afhængig af årstiden 
20 May
i så fald har du været død i 10 år.... med andre ord du har kun 29 år tilbage at leve i... deprimere..
20 May
så husk at det i dag er 39 år siden at Ronald Wayne solgte sine 10% af apple for 800 $.   I dag vill..
19 May
Det er da ikke mere rystende end at de danske dyrplager landmænd konstant har indflydelse på politik..
19 May
Carl Ichan glemmer bare at omtale at Apple's stor pengetank er opbygget i en sindrig skattekonstrukt..

Regulatory news

Notification of Transactions of Directors

22/05/2015 15:32:07
Intermediate Capital Group plc (the "Company") 22 May 2015 Notification of Transactions of Directors In accordance with the UK Financial Services Aut..

Holding(s) in Company

22/05/2015 13:38:48
For filings with the FSA include the annex   For filings with issuer..

Form 8.3 - Greene King plc

22/05/2015 10:49:20

Most read news

  • 24 hours
  • 48 hours
  • 1 week
PR Newswire - Service Test Notice 5
PR Newswire - Service Test Notice 1
PR Newswire - Service Test Notice 3
PR Newswire - Service Test Notice 4
PR Newswire - Service Test Notice 2

Related stock quotes

Apple Inc 132.54 0.9% Stock price increasing
Microsoft Corporation 46.90 -1.1% Stock price decreasing
Qualcomm Incorporated 69.51 -0.8% Stock price decreasing
Yahoo Inc 43.49 -0.4% Stock price decreasing
Nvidia Corporation 20.86 -0.1% Stock price decreasing
IBM Corp 172.22 -0.7% Stock price decreasing
Adobe Systems Incorporat.. 80.04 -0.7% Stock price decreasing
VeriFone Systems Inc 37.49 0.5% Stock price increasing
Seagate Technology 55.79 0.8% Stock price increasing
IBM COM STK USD0.20 172.75 -0.5% Stock price decreasing
IBM 185.00 0.0% Stock price unchanged
Microsoft Corp SPL 47.92 0.0% Stock price unchanged

Buy and sell signals

  • Trend
  • Moneymachine

Copyright Euroinvestor A/S 2015   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.
24 May 2015 16:04:13
(UTC) Dublin, Edinburgh, Lisbon, London
Version: LiveBranchBuild_20150519.1 - EUROWEB1 - 2015-05-24 17:04:13 - 2015-05-24 16:04:13 - 1000 - Website: OKAY