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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
09/16/201417:18:29TECH STOCKS: Microsoft, Pandora Lead Tech Higher
09/16/201411:17:24TECH STOCKS: Microsoft, Pandora Lead Techs Higher
09/16/201400:51:26TECH STOCKS: Tech Stocks Fall; Microsoft Among Decliners
09/16/201400:40:05Apple Reports Record Preorders for New iPhone
09/16/201400:38:07MARKET SNAPSHOT: U.S. Stocks Fall As Nasdaq Sinks Nearly 1%
09/16/201400:23:51MARKET SNAPSHOT: U.S. Stocks Open Lower; Yahoo Rises
09/16/201400:13:33U.S. Hot Stocks: Hot Stocks to Watch
09/15/201419:54:26MARKET SNAPSHOT: U.S. Stocks: Futures Flat As Investors Wait...
09/15/201409:44:04MARKET SNAPSHOT: U.S. Stocks: Futures Nudge Lower As Investors...
09/14/201416:45:31Don't Underestimate Smartwatches
09/12/201416:40:35TECH STOCKS: Apple, EBay Gains Can't Blunt Other Tech Losses
09/12/201415:17:53TECH STOCKS: Tech Stocks On A Mixed Trading Path
09/11/201416:57:39TECH STOCKS: JDSU, Pandora Lead Broad Tech Gains
09/11/201411:57:07What Do The World's Top Watchmakers Think of Apple Watch?
09/11/201411:53:21TECH STOCKS: JDSU, Pandora Buck Tech's Weak Performance
09/11/201409:28:32MARKET SNAPSHOT: U.S. Stocks: Futures Fall; Jobless Claims Rise
09/11/201408:06:53MARKET SNAPSHOT: U.S. Stocks: Futures Pull Back; Jobless Claims...
09/10/201422:52:21ASIA MARKETS: Hong Kong Stocks Fall On U.S. Losses, China Growth...
09/10/201422:10:41Japan Stocks Rise on U.S. Gains
09/10/201420:19:12Will Stores Warm Up to Apple Pay?

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