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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
03/27/201703:02:00Apple Gets a Patent Win in China -- WSJ
03/26/201705:21:00Apple Bites Back With iPhone Court Win in China
03/24/201706:48:00Today's Top Supply Chain and Logistics News From WSJ
03/21/201712:47:00Apple Offers Lower-Priced iPad -- 2nd Update
03/21/201712:08:00China Rolls Out Big Guns for Charm Offensive
03/21/201711:22:00Apple Offers Lower-Priced iPad -- Update
03/21/201710:04:00Apple Offers Lower-Priced iPad
03/21/201709:56:00Apple Offers Lower-Priced iPad
03/21/201708:35:00It's Apple vs. Trump in Taiwan, and the iPhone Maker Is Winning
03/21/201708:30:00Swift Playgrounds Now Available in Five Additional Languages
03/21/201708:30:00Apple Introduces Clips: The Fun, New Way to Create Expressive...
03/21/201708:30:00Apple Introduces iPhone 7 & iPhone 7 Plus (PRODUCT)RED Special...
03/21/201708:30:00New 9.7-inch iPad Features Stunning Retina Display & Incredible...
03/18/201701:49:00Apple CEO Tim Cook Defends Globalization in China Speech
03/17/201718:33:22Statement of Changes in Beneficial Ownership (4)
03/17/201715:23:00Apple Pledges Two New R&D Centers in China -- 3rd Update
03/17/201713:18:00Apple Pledges Two New R&D Centers in China --2nd Update
03/17/201710:39:00Apple Pledges Two New R&D Centers in China --Update
03/17/201710:36:00Bank of England Says Autonomous Cars May Give Insurers a Rough...
03/17/201710:10:00Apple Pledges New Development Centers in China Apple Pledges...

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