Technology sector retreats as broader market falls; Apple sheds 5%

“Technology stocks declined further along with the broader market Friday afternoon after General Electric Co. reported a drop in quarterly profit,” Benjamin Pimentel reports for MarketWatch.

“The major players in the tech sector all declined, including Apple Inc. (AAPL: 146.82, -7.73, -5.0%) , Google Inc. (GOOG: 455.98, -13.10, -2.8%) , IBM Corp. (IBM: 116.02, -2.76, -2.3%) and Microsoft Corp. (MSFT: 28.23, -0.88, -3.0%). Internet giants Amazon.com Inc. (AMZN: 71.76, -3.07, -4.1%) , Yahoo Inc. (YHOO: 28.18, -0.41, -1.4%) and eBay Inc. (EBAY: 30.79, -1.17, -3.7%) also fell. In the chip sector, Intel Corp. (INTC: 21.19, -0.89, -4.0%) and rival Advanced Micro Devices Inc. (AMD: 6.00, -0.27, -4.3%) were both off more than 3%,” Pimentel reports.

Full article here.

24 Comments

  1. The stock market is one big scam. IMO. These guys screaming and jumping on the floor of the exchanges contribute nothing to the economy. Everything seems upside down. The people who make things are the lowest paid. The people who live off the workers backs are billionaires. Sad.

  2. Woo Hoo! We declined more on a percentage basis than the other “major players in the tech sector”. I love roll coaster rides. Busch Gardens in Williamsburg, VA has some really fantastic roller coasters. Having grown up in Williamsburg though, I’m partial.

    Peace.

    Lurker_PC

  3. The market is only a “scam” if you speculate in short-term trading. From year-to-year, however, it is a REMARKABLY accurate gauge of value. Regarding your other points about those who “make” things, you’re simply wrong. Those who make valuable things (e.g., popular songs) are well-compensated, generally far better than those in the market. Those who make shoes, on the other hand, not so much. If you don’t like it, your quarrel is with consumers. Unless of course, you just enjoy belly-aching and think it makes you superior to others (not true, but most likely).
    Jake

  4. The market is only a “scam” if you speculate in short-term trading. From year-to-year, however, it is a REMARKABLY accurate gauge of value. Regarding your other points about those who “make” things, you’re simply wrong. Those who make valuable things (e.g., popular songs) are well-compensated, generally far better than those in the market. Those who make shoes, on the other hand, not so much. If you don’t like it, your quarrel is with consumers. Unless of course, you just enjoy belly-aching and think it makes you superior to others (not true, but most likely).
    Jake

  5. The market is only a “scam” if you speculate in short-term trading. From year-to-year, however, it is a REMARKABLY accurate gauge of value. Regarding your other points about those who “make” things, you’re simply wrong. Those who make valuable things (e.g., popular songs) are well-compensated, generally far better than those in the market. Those who make shoes, on the other hand, not so much. If you don’t like it, your quarrel is with consumers. Unless of course, you just enjoy belly-aching and think it makes you superior to others (not true, but most likely).
    Jake

  6. The market is only a “scam” if you speculate in short-term trading. From year-to-year, however, it is a REMARKABLY accurate gauge of value. Regarding your other points about those who “make” things, you’re simply wrong. Those who make valuable things (e.g., popular songs) are well-compensated, generally far better than those in the market. Those who make shoes, on the other hand, not so much. If you don’t like it, your quarrel is with consumers. Unless of course, you just enjoy belly-aching and think it makes you superior to others (not true, but most likely).
    Jake

  7. The market is only a “scam” if you speculate in short-term trading. From year-to-year, however, it is a REMARKABLY accurate gauge of value. Regarding your other points about those who “make” things, you’re simply wrong. Those who make valuable things (e.g., popular songs) are well-compensated, generally far better than those in the market. Those who make shoes, on the other hand, not so much. If you don’t like it, your quarrel is with consumers. Unless of course, you just enjoy belly-aching and think it makes you superior to others (not true, but most likely).
    Jake

  8. The market is only a “scam” if you speculate in short-term trading. From year-to-year, however, it is a REMARKABLY accurate gauge of value. Regarding your other points about those who “make” things, you’re simply wrong. Those who make valuable things (e.g., popular songs) are well-compensated, generally far better than those in the market. Those who make shoes, on the other hand, not so much. If you don’t like it, your quarrel is with consumers. Unless of course, you just enjoy belly-aching and think it makes you superior to others (not true, but most likely).
    Jake

  9. I love it, GE has not one thing to do with Apple!! People are just Sheep and run around acting like chicken little…Apple Stock should be over $200, just wait until the 23 of april when they report their numbers for the quarter!!

  10. @@: @ron & shen, et al

    Jake– So shoes are not valuable and songs are???

    Give me a break. I’m not superior at all- except in art. God gave me superior talent, which I donate to others.

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