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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
06/30/201516:00:03Amazon's Hidden Internet of Things Advantage
06/30/201515:22:03Apple Music Could Be a Major Win for Investors in Apple Inc...
06/30/201513:23:00Apple Loses Federal Appeal in E-Books Case -- 3rd Update
06/30/201512:41:00Hagens Berman: Court Affirms Potential $450 Million Settlement...
06/30/201512:18:25Apple Loses Federal Appeal in E-Books Case -- 2nd Update
06/30/201511:53:14Apple Loses Federal Appeal in E-Books Case -- Update
06/30/201511:00:06Apple Loses Federal Appeal in E-Books Case
06/30/201511:00:02Did LG Solve Apple Watch’s Biggest Problem?
06/30/201510:50:30Apple Loses Federal Appeal in E-Books Case
06/30/201510:00:02Why Twitter Inc. Is Investing Heavily In Artificial Intelligence
06/30/201503:40:08Sony Plans $3.6 Billion Stock, Bond Offering
06/30/201502:56:12Imagination Technologies Fiscal Year Pretax Loss Widens as Investment...
06/29/201520:04:11High Expectations Play in Background of Apple Music's Debut
06/29/201516:57:028 Charts to Celebrate the iPhone's 8th Birthday
06/29/201515:04:02Apple's Next iPhone: Get Ready to Say Goodbye to This Option
06/29/201511:48:03Apple’s iTunes U 3.0 Reboot Could Boost Struggling iPad Sales
06/29/201510:31:03How Adblock Extensions Are Draining Google Inc's Revenue
06/28/201512:40:02Here’s One Area Where Samsung’s Galaxy S6 Beats Apple’s iPhon...
06/27/201511:10:02New Details Of Apple Inc.'s Retail Revival Emerge
06/26/201518:34:45Statement of Changes in Beneficial Ownership (4)

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