This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tech Loser: Apple Slips Under $400 to Lead Sector Lower

NEW YORK ( TheStreet) -- Technology stocks sank Wednesday led by Apple (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, Cirrus Logic (CRUS). Apple declined 5.5% on the day to $402.80.

Google (GOOG) shed 1.4% to $782.56 after Microsoft (MSFT - Get Report) came to an agreement with Foxconn parent company Hon Hai 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.

eBay (EBAY - Get Report) 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.

Yahoo! (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.

Intel (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 Hewlett-Packard (HPQ - Get Report) skid 2.62% to $20.49 after Intel's disappointing numbers.

Written by Andrea Tse in New York

>To contact the writer of this article, click here: Andrea Tse.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $132.65 1.82%
EBAY $59.09 -0.19%
GOOG $555.37 -1.71%
INTC $32.50 1.31%
HPQ $33.07 -0.57%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs