downgraded several PC makers this morning, citing weak October sales and the dangers of price competition amid sluggish demand.
The firm cut its ratings on
to buy from strong buy.
Shares of Apple were recently unchanged at $18.44, while Dell shares were tumbling 7%, or $1.75, to $23.19 in
trading. Shares of Intel, which today introduced its new Pentium 4 chip, were off 1%, or 44 cents, to $41.13 on the
, whose shares were recently falling 10%, or $3.98, to $35.75, had its rating cut to hold from buy.
Other members of the sector were also generally lower this morning. Shares of
were recently down 0.7%, or 25 cents, to $35.38, on the Big Board, while shares of
were also in the red at $83.69, down $5.69, or 6.4% in
trading. But shares of
recently gained 0.3%, or 31 cents, to $102.25 in
New York Stock Exchange
trading. Shares of
were down 77 cents, or 3.1%, to $24.23.