Gateway

(GTW)

was down 33.9% in early trading after touching a 52-week low of $18.93, and its earnings warning was carrying PC and semiconductor stocks sharply lower. Analysts were piling in with downgrades and estimate cuts. Several other computer companies reached 52-week lows, including

Dell

(DELL) - Get Report

, which was down 8.1%;

Apple

(AAPL) - Get Report

, which lost 5.7%;

Compaq

(CPQ)

, which was off 13.1% and

Hewlett-Packard

(HWP)

, which fell 7.4%. The

Box Maker Index

(BMX)

was down 8.9%.