Tech Winners & Losers: AT&T

The telecom's earnings were hurt by high upfront costs of its hot-selling iPhone 3Gs.
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Tech stocks continue their deep slide on Wednesday, with only a few bright spots in an otherwise grim day of trading.

The Nasdaq was off 81 points, or 4.8%, to close at 1616.

AT&T

(T) - Get Report

shares also fell, by 7.6% to $23.78 after it

missed Wall Street estimates

for third-quarter earnings due to

Apple's

(AAPL) - Get Report

high upfront costs of its iPhone 3G and its own weak results of its wireline.

Meanwhile, Apple shares were up 5.9% to $96.87 after posting a 26% increase in

fourth-quarter profit

. Revenue rose to $7.9 billion from $6.22 billion in the same period last year.

Shares of

SanDisk

(SNDK)

plunged 31.6% to $10.09 after Samsung

yanked its $5.85 billion

offer to buy the chipmaker.

The news comes two days after SanDisk

reported another large quarterly loss

and said it would sell 30% of its chip manufacturing capacity to Toshiba.

EMC

(EMC)

shares were up 3% to $9.98 after posting a 13% increase in sales but a 17% drop in profit

in the third quarter

.

The storage specialist said its fourth-quarter results may come in at the low end of Wall Street's estimates.

Shares of

Yahoo!

>

(YHOO)

were up 2.7% to $12.39 after it posted third-quarter results

that were in line with analysts' expectations

but fell short on revenue. The company said it was cutting 10% of its workforce, or about 1,500 jobs, in the fourth quarter.