NEW YORK (
) -- Technology stocks sank Wednesday led by
(AAPL - Get Report)
as first-quarter earnings tktk
Apple shares briefly fell below $400 for the first time since December 2011 on the back of
weaker-than-expected-results from one of its suppliers
. Apple declined 5.5% on the day to $402.80.
(GOOG - Get Report)
shed 1.4% to $782.56 after
(MSFT - Get Report)
came to an agreement with Foxconn parent company
that said all Android or Chrome devices produced by Hon Hai group manufacturers would result in royalty payments to the world's largest software maker. The news was disappointing to Google, which is in a bitter patent war with Microsoft over the technologies.
Google reports first-quarter earnings after the bell on Thursday.
lost 1.6% to $56.10 ahead of its
first-quarter earnings call
held after the close. The company was expected to post quarterly profit of 62 cents a share on revenue of $3.76 billion.
(YHOO - Get Report)
dipped 0.4% to $23.70 after the company's first-quarter earnings call revealed the core of its business continues to take a long time to turn around, taking some off
shine off CEO Marissa Mayer
(INTC - Get Report)
bucked the trend of technology declines as the stock recovered from an early-morning sell-off after the world's largest semiconductor maker posted earnings that fell below forecasts. The company also projected revenue
broadly in line with Wall Street's forecast
of $12.85 billion. Shares closed on a gain of 0.1% to $21.93.
Top PC maker
(HPQ - Get Report)
skid 2.62% to $20.49 after Intel's disappointing numbers.
Written by Andrea Tse in New York
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