(Updates from 1:35 p.m. ET with closing information.)NEW YORK ( TheStreet) -- Technology became the worst-performing sector Thursday, weighing down the Nasdaq, after Microsoft's (MSFT - Get Report) Windows 8 was blamed for a deep contraction in global PC shipments.
PC-giant Hewlett-Packard (HPQ - Get Report) was tumbling 6.63% to $20.84. IDC said its worldwide shipments fell more than 23% year-on-year in the first quarter. Texas-based Dell (DELL) was off 0.63% as IDC said its shipments fell by more than 10% globally. Other companies dependent on PC sales were also hit by the report. Intel (INTC - Get Report) was shedding 2.65% and Seagate Technology (STX - Get Report) and Advanced Micro Devices (AMD) were giving up more than 4% Netflix (NFLX) was a bright spot in the tech world, jumping 3.02% to $171.08 after getting some love this morning from Goldman Sachs as the investment bank raised its earnings estimates and price target on the movie provider citing improved subscriber growth and margin expansion.
Closing prices: MSFT ended the day down 4.5% at $28.93, HPQ fell 6.5% to $20.88 and DELL fell 1.2% to $14.04. INTC dropped 2% to $21.93, STX fell 3.1% to $36.53 and AMD was lower by 3.5% to $2.52. NFLX, however, bucked the trend and closed up 4.2% at $173.01. Written by Andrea Tse in New York >To contact the writer of this article, click here: Andrea Tse.