Rival Computer Makers Follow Dell Shares Down

Computer stocks were falling in the aftermath of Dell's(Dell Quote) earnings report and sales projection, which prompted several firms to downgrade their calls on the company.

Shares of Dell, which yesterday targeted 2002 revenue growth of 20%, tumbled $5.06, or 17.8%, to $23.38 in Nasdaq trading.

And its competitors weren't spared. Shares of Gateway(GTW Quote) were down 12.8%, or $5.93, to $40.27, while IBM(IBM Quote) was lower by 5.5%, or $5.44, to $94 on the New York Stock Exchange.

Apple(AAPL Quote) fell 3.1%, or 63 cents, to $19.63, and Hewlett-Packard(HWP Quote) dropped $3.75, or 8.7%, to $39.19. Compaq(CPQ Quote) was also recently down $1.88, or 6.9%, to $25.23 in Big Board trading.

Sun Microsystems(SUNW Quote) saw its shares fall $8, or 8.1%, to $89.63.