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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
01/18/201713:00:00GarageBand and Logic Pro X Music Apps Get Major Updates
01/18/201705:54:00India Is Keen for Apple to Manufacture in India, IT Minister...
01/18/201703:03:00FTC Files Lawsuit Against Qualcomm -- WSJ
01/17/201719:41:00Federal Trade Commission Files Antitrust Lawsuit Against Qualcomm...
01/13/201703:02:00Apple Sets Its Sights On Films, Television -- WSJ
01/12/201720:52:00Pandora Cuts Jobs, Projects Strong Fourth Quarter -- 2nd Update
01/12/201705:59:00Apple Sets Its Sights on Hollywood With Plans for Original Content
01/12/201703:03:00Smartphones Turn to Software Advances -- WSJ
01/11/201708:29:00The Next Big Thing in Smartphones? The Software
01/10/201718:31:29Statement of Changes in Beneficial Ownership (4)
01/10/201705:27:00Correction to WeChart Article on Monday
01/09/201712:06:00MARKET SNAPSHOT: Stock Market Slips Ahead Of Corporate-earnings...
01/09/201710:11:00MARKET SNAPSHOT: Stock Market Dips Ahead Of Corporate-earnings...
01/09/201708:10:00China's WeChat Applauds Apple, Even As It Unveils a Challenge
01/08/201714:00:00Why Apple's Critics Are Right This Time
01/07/201703:02:00Apple Performance Slips, CEO's Pay Cut -- WSJ
01/06/201719:37:00Apple Cuts CEO Tim Cook's Pay, Citing Performance -- 2nd Update
01/06/201716:36:00Apple Cuts CEO Tim Cook's Pay, Citing Performance -- 2nd Update
01/06/201709:59:00Apple Cuts CEO Tim Cook's Pay, Citing Performance -- 2nd Update
01/06/201709:31:00Apple Cuts CEO Tim Cook's Pay, Citing Performance -- Update

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