“Technology stocks lost significant ground by midday Thursday,” Dan Gallagher reports for MarketWatch.
“In midday action, the tech-heavy Nasdaq Composite Index fell 65 points, or 2.7%, to 2,393. The Morgan Stanley High Tech 35 Index slipped 16 points, or 2.6%, and the Philadelphia Semiconductor Index was down nearly 2%,” Gallagher reports.
“The losses mirrored those in the broader market, which retreated Thursday due to further worries of weakness in the mortgage and housing sectors,” Gallagher reports.
“PC makers Apple Inc. (AAPL: 113.78, -6.12, -5.1%) , Dell Inc. (DELL: 25.31, -0.99, -3.8%) and Hewlett-Packard Co. (HPQ: 44.20, -1.95, -4.2%) all lost ground,” Gallagher reports. “H-P is slated to report quarterly financial results after the closing bell.”
Full article here.
MacDailyNews Note: Since setting an all-time high of $148.92 on July 27th, 2007, Apple shares have been severely punished, losing $34.87, or 23.42%, to trade at $114.05 currently.