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Turning on Tech: Some Gurus Cast a Bearish Glance at Tech Stocks
GuruVision: A Day Late, Several Dollars Short
SAN FRANCISCO -- Predictably, last week's year-to-date-gain-erasing downturn generated concern bordering on panic in the weekend press and among some market watchers. Just as predictably, today's action belied such concerns as the Dow Jones Industrial Average rose 1.5%, the S&P 500 gained 1.2% and the Nasdaq Composite rose 0.8%.
Certainly it was a rough session for shareholders of Emulex (EMLX Quote), down a shocking 47.9% after the company warned, and those of sympathy victims QLogic (QLGC Quote), Brocade (BRCD Quote), Juniper Networks (JNPR Quote) and EMC (EMC Quote). ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,328.89 | 1,102.47 | 2,211.69 | 35.46 |
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