Apple Computer Drags Down PC Stocks

Apple Computer

(AAPL) - Get Report

was down 14.7% to a 52-week low of $14.50 in early trading after warning of a first-quarter loss.

Bear Stearns

and

Lehman Brothers

lowered 2001 estimates to project a loss for the company.

Credit Suisse First Boston

downgraded Apple and

Gateway

(GTW)

to hold from buy and lowered

Compaq

(CPQ)

to hold from strong buy.

Compaq was down 9.6%. Gateway was down 7.1% after touching a year-low of $17.

Dell

(DELL) - Get Report

was down 6.2%.