Tech Winners and Losers: Microsoft

Microsoft shares are down after an analyst at UBS lowers estimates.
Publish date:

Updated from 3:49 p.m. EST

Though many widely held tech stocks rallied toward the market close Wednesday,


(MSFT) - Get Report

remained among the day's notable losers.

UBS analyst Heather Bellini lowered her price target for Microsoft to $21 and also cut estimates based on sales and earnings forecasts revealed at a meeting Tuesday in New York. Shares were down 1.2% to$16.96 in recent trading.

In other analyst news,


(T) - Get Report

got a little love Wednesday from JP Morgan, which upgraded the stock to Overweight from Neutral, citing the potential for iPhone revenue later in 2009. Shares rose 2% to $23.71.

Elsewhere in the tech sector:

Yahoo! shares were down 2.1% to $12.48.

Google shares were down 1.1% to $341.64.

Research In Motion were up 1.9% to $41.17.

Palm was down 5% to $7.28.

Nokia , which a day earlier announced a voluntary resignation program, was down 2.5% to $9.46.

Apple was up 1% to $91.16.

Shares of Hewlett-Packard were up 1.7% to $30.12.

Dell was up 1.2% to $8.36.

Cisco was down 1.5% to $14.77.

IBM was down 0.6% to $85.90.