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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
09/23/201618:37:37Statement of Changes in Beneficial Ownership (4)
09/23/201618:35:20Statement of Changes in Beneficial Ownership (4)
09/23/201615:10:00IHeartMedia to Launch On-Demand Music Service
09/23/201614:51:00IHeartMedia to Launch On-Demand Music Service
09/22/201607:20:00Apple Looks to Open First Store in Samsung's Backyard
09/22/201603:03:00Apple Held Talks With McLaren -- WSJ
09/22/201603:03:00Apple Supplier Awaits Fate -- WSJ
09/21/201617:40:00Jabil Circuit Profit Falls
09/21/201617:22:00Apple Tests iPhone 7 Plus Portrait Mode in New iOS Developer...
09/21/201616:50:00Apple Looking to Bolster Car Project
09/21/201616:22:00Apple Looking to Bolster Car Project
09/21/201611:34:00Apple Makes Deal Approach to U.K. Car Maker McLaren Technology...
09/21/201606:30:00Apple and Google Browser Tweaks Could Boost Mobile Video
09/21/201603:03:00Streaming Props Record Labels -- WSJ
09/21/201600:30:00Google Allo Review: Messaging and AI, With Limitations
09/21/201600:10:00Japan Could Divest Stake in iPhone Display Maker
09/20/201623:47:00Japan Government May Divest Japan Display Stake if its Technology...
09/20/201620:25:00Record Companies' U.S. Revenue Up 8.1% in First Half of 2016...
09/20/201619:30:00Record Companies' U.S. Revenue Up 8.1% in First Half of 2016
09/20/201619:30:00Samsung Says Replacement Galaxy Note 7s Will Be Available Wednesday

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