The rot of the apple is spreading.

Bear Stearns

this morning sliced its ratings on five PC makers, saying it was concerned with "the macro picture" of the sector.

The downgrades come on the heels of


(AAPL) - Get Report

announcement that its upcoming earnings will be much lower than expected. (In a

separate story ,

took a look at what Apple's warning means.)

Trying to play catchup, Bear Sterns moved Apple to neutral from buy.

It also moved

TheStreet Recommends

Compaq Computer


to attractive from buy;



to attractive from buy;



to neutral from buy; and

Dell Computer

(DELL) - Get Report

to neutral from buy.

Apple was lately down 50% to $26.75.