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TECH STOCKS: AMD Leads Tech Retreat, But Netflix, Apple Gain

By Benjamin Pimentel, MarketWatch SAN FRANCISCO (MarketWatch) -- The tech sector stood in negative territory in early post-holiday trading, as shares of Advanced Micro Devices headed south after Sterne Agee downgraded its rating to neutral. AMD (AMD) shed nearly 3% to $5.86 on Thursday, ranking as one of the worst performers within the S&P 500 index. Analyst Vijay Rakesh cut his rating on the chipmaker, citing expectations for a slowing personal computer market. "We believe the slowing PC market limits upside," Rakesh wrote. "While AMD continues to execute, material upside to consensus might be limited given PC transition and competitive headwinds." The Philadelphia Semiconductor Index (SOX) fell 2%, while the Nasdaq Composite Index (RIXF) slipped a fraction to 2,960. Within the Dow Jones Industrial Average, tech components Intel Corp. (INTC) and Cisco Systems (CSCO) were among the top decliners, as Wall Street reacted to the European Central Bank president's comments on downside risks to euro-area growth. On the upside, shares of Netflix Inc. (NFLX) jumped more than 8% to $78.22, while Yelp Inc. (YELP) saw its stock gain about 10% to $27.20. Shares of Apple Inc. (AAPL) were also up, gaining nearly 1% at $604.75 in the early going.

Stock News for Apple (AAPL)
DateTimeHeadline
02/24/201718:31:45Statement of Changes in Beneficial Ownership (4)
02/23/201709:02:46COBI -Motion Entertainment Brings Groundbreaking Technology To...
02/22/201718:33:22Statement of Changes in Beneficial Ownership (4)
02/22/201712:21:00Apple to Open New Campus in April
02/22/201712:14:00Apple to Open New Campus in April
02/22/201708:30:00Apple Park Opens to Employees in April
02/17/201718:32:18Statement of Changes in Beneficial Ownership (4)
02/17/201718:31:16Statement of Changes in Beneficial Ownership (4)
02/17/201708:29:00BeatsX Review: If Apple's AirPods Aren't Your Thing
02/16/201710:36:00Visa Wants Your Car to Pay for Gas at the Pump
02/16/201708:30:00WWDC, Apple’s Worldwide Developers Conference, returns to San J...
02/15/201708:42:46Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
02/15/201708:30:00Omni-Channel Payment Processors Embrace the Times
02/15/201703:02:00Berkshire Boosted Apple Bet Before Rise -- WSJ
02/14/201719:12:00Berkshire Hathaway Discloses Increased Stake in Apple
02/14/201717:49:00David Tepper Increases Wagers On Drug Companies
02/14/201709:11:59Free Writing Prospectus - Filing Under Securities Act Rules 163/433...
02/14/201706:13:30Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
02/13/201719:10:00Apple Shares Hit All-Time Closing High as Investors Await Next...
02/13/201716:36:00Apple Shares Hit All-Time Closing High as Investors Await Next...

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