Tech Winners & Losers: Apple

Tech stocks were largely flat on Friday along with the rest of the major market indices after Congress tried to ease the dour mood on Wall Street by passing a $700 billion bailout package.

The Nasdaq gained only 7 points - less than 1% -- to 1983.

Apple's(AAPL Quote - Cramer on AAPL - Stock Picks) shares were on a roller coaster ride after a false rumor emerged that the company's revered leader, Steve Jobs, had suffered a heart attack.

The stock plummeted but came back up after Apple denied the report. It then dipped 2% to $98.12, falling below the $100 mark for the first time since May 2007.

Saleforce.com(CRM Quote - Cramer on CRM - Stock Picks) saw its shares fall 4.7% to $42.12 after UBS lowered its rating to sell from buy, noting signs of potential softness in utilization rates.

Shares of Informatica(INFA Quote - Cramer on INFA - Stock Picks) were falling 4.9% to $12.12 after the company disclosed in a SEC filing on Thursday that two of its directors had resigned this week: Janice Chaffin, a group president with Symantec, and Carl Yankowski, a former CEO of Palm(PALM Quote - Cramer on PALM - Stock Picks). Infornatica said the departures were not the result of any disputes with management.

Shares of SAP(SAP Quote - Cramer on SAP - Stock Picks) were also down after Goldman Sachs cut estimates on the company for the next three years. The firm also lowered its price target to $56 from $64.

The stock fell 4.1% to $46.86 in afternoon trading.

Shares of Xyratex(XRTX Quote - Cramer on XRTX - Stock Picks) tumbled 9.2% to $7.99 after Friedman Billings cut its rating to market perform from outperform and lowered its earnings estimate for next year to $1.35 a share from $1.82 a share. The firm also expects gross margins for the disk drive equipment maker to be lower than expected.