Global economic concerns drive down markets; Major tech stocks lose ground

Invisible Shield for Apple iPhone 4!“Tech stocks slumped Tuesday as concerns about global economic growth drove the broad market right into the red,” Rex Crum reports for MarketWatch.

“Every major tech stock lost ground, with declines coming from Apple Inc. (AAPL 256.93, -11.37, -4.24%) , Intel Corp. (INTC 19.81, -0.55, -2.70%) , Google Inc. (GOOG 457.15, -14.93, -3.16%) and Dell Inc. (DELL 12.38, -0.57, -4.40%),” Crum reports. “Micron Technology Inc. (MU 8.66, -1.36, -13.57%) fell $1.05 a share, or more than 10%, to $8.99 after the company reported strong third-quarter results, but hinted as some weakness in the memory-chip technology market.”

Full article here.

18 Comments

  1. Great buying opportunity for Apple shares.

    Biggest blockbuster earnings in a few weeks

    IPad avalanche in full motion
    IPhone juggernaut on tap
    Mac sales booming and it’s hotter than July!

  2. What we need to do is to raise taxes so that I can spend more of your money on the types of people who vote for the likes of me.

    Before you object, as my friend Joe Biden says, “Don’t be a wiseass.”

    Now, excuse me, I have a tee time at 11:30…

    SUCKERS!!!

  3. In non related news. The San Jose Mercury today is filled with stories not only about iPhones reception problems but also about cameras not working on many iPhone 4s. Of course it is not unusual for the SJM to do. Although Apple is a local company the San Jose Mercury goes out of its way to bash all Apple products almost daily. But it is getting worrisome to me as a AAPL holder that this phone that I really like is making so many negative headlines. I wonder if the huge drop in AAPL today may be more about the iPhone than China.

  4. Apple’s continued transcendence is a bright spot in a worrying global situation.

    The US administration’s program for recovery is pure Keynesianism, unfunded government stimulus. Unfortunately, the Reagan and Bushes administrations had already turned Keynes on its head by pumping unfunded government stimulus on top of prosperity, setting up the massive pseudo-wealth overhang which eventually came apart. Europe, of course, indulged in the same illogic.

    The sooner governments and individuals embrace a program of living within their means, the sooner the World’s economies can achieve health.

  5. It has become apparent reality to all Apple competitors and fringe industries, that are in danger of crumbling since Apple broke all their strongholds and models, that they are years behind a solution if at all.

    Hence, the only way to stop Apple from increasing the gap and possibly salvaging anything, is to “by any means necessary” slow Apple down by throwing literally everything they can think of at Apple and ramping up a FUDfest on all fronts, regardless of merit or truth.

    IPhone 4 is a solid wellndesigned and revolutionary turn for the iPhone line. At worst the totally hyped and non existing “problems” will impact the stock climb temporarily and once it’s evident that these are minor issues that are not defects, Apple will resume it’s flight to the moon. Only ignorance can be influenced by the FUDfest. All others, stay the course and trust what you know.

    Those that can do, all others don’t.

  6. Apple shares declining today just shows that stock prices have NOTHING to do with the value of a company. Rather it is the current value that marketeers place on a company so they can float values and make money for their friends and themselves.

    Period.

    Just a thought,
    en

  7. ElderNorm: “Apple shares declining today just shows that stock prices have NOTHING to do with the value of a company.”

    Actually what it shows is that no company is an island, that general economic and financial worries will affect the faith of the most dedicated investor. The markets are driven by fear, greed and uncertainty in varying measures. And there’s plenty to stoke that fear and uncertainty today.

  8. Can’t speak to the malfunctioning cameras, but IOS4 on my 3GS has caused my camera to take pictures much faster than it did before. I used to get a really slow shutter response time, but now it just makes a fast “click” and it’s done. I’m liking it. Plan to trickle down this one to my wife as soon as I can find a new one in stock to purchase.

  9. Uncle Al
    Me too, camera on iPhone 4 front and back work very well. Only person I have seen is this Troy Wolverton at the San Jose Mercury. He is an Apple basher of the first order. No matter how positive things go at Apple he twists every article into not only negative but snide remarks. Comments can be sent to him at: twitter.com/troywolv

  10. It’s not helping matters we have the war-monger cuckoos lining up for an attack on Iran, a nation that hasn’t waged an offensive war in over 200 years.

  11. Global economic concerns translates as “The Republicans in the Senate are willing to take the entire global economy down in flames if they think they can score some cheap points on spending” which is only necessary because their disastrous stewardship brought the global economy on fire in the first place.

  12. @ Barack

    Try to stay on topic will ya? We really don’t need a political remark in every comment section of every story. If you feel you HAVE to make a comment like that, take it somewhere where it would actually fit with the article.

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