Shares of PC makers were shredded this morning, along with
, which warned
yesterday it would miss first-quarter sales and earnings targets.
Apple was lately down 14.8%, or $2.50, to $14.50 on the
, trading through a 52-week low.
fell 9.4%, or $1.78, to $17 in composite trading.
was lower by 5.5%, or $5.69, to $97.69, and
tumbled 15.4%, or $3.75, to $20.65 on the Big Board.
were recently lower by 11.5%, or $2.31, to $17.94 on the Nasdaq.
lost 9.6%, or $3.38, to $31.63. This morning H-P's chief executive, Carly Fiorina, again said the company expected revenue growth of 15% to 17% in 2001.
Analysts, predictably, reacted to the downslide after Apple's warning.
this morning cut its revenue and earnings estimates on Apple.
also lowered Apple's EPS estimates, and
Credit Suisse First Boston
jumped on the bandwagon by lowering the ratings of computer makers Apple, Gateway and Compaq.
Among major semiconductor issues,
lost 8.5%, or $3.06, to $32.94 on the Nasdaq, while
Advanced Micro Devices
declined 4.8%, or 75 cents, to $15 in composite trading.