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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
09/01/201421:30:03Apple Investigating Reports of iCloud Vulnerabilities
08/29/201419:35:31Apple's New Whiz Kids
08/29/201417:05:31MARKET SNAPSHOT: S&P 500 Rises To Record, Nabs Best Month Since...
08/29/201417:05:27TECH STOCKS: Apple Continues To Rise On IPhone Hype
08/29/201416:52:49Telecoms Up as Traders Bet on Apple Halo Effect -- Telecoms Roundup
08/29/201415:59:40MARKET SNAPSHOT: S&P 500 On Pace To End Higher At Record
08/29/201413:18:37MARKET SNAPSHOT: S&P 500 Regains 2,000, Adds To Weekly, Monthly...
08/28/201418:05:19Fed Presidents Lockhart And Fisher Were Active Personal Asset...
08/28/201417:00:13TECH STOCKS: Techs Follow Market Down On Ukraine Fears
08/28/201414:13:56TECH STOCKS: Tech Stocks Retreat Amid Market's Ukraine Fears
08/27/201417:46:22TECH STOCKS: Facebook Leads Tech Stocks Lower
08/22/201416:27:06TECH STOCKS: Salesforce, GameStop Lead Tech Stocks
08/22/201413:33:10MARKET SNAPSHOT: Stocks Set For Weekly Gains, Turn Flat For Friday
08/22/201411:46:48MARKET SNAPSHOT: Stocks Dip Amid Ukraine Tensions
08/22/201411:01:50MARKET SNAPSHOT: U.S. Stocks Set For Weekly Gains After Yellen
08/22/201410:47:55MARKET SNAPSHOT: U.S. Stocks Await Yellen For Direction, Hold...
08/22/201410:47:30MARKET SNAPSHOT: U.S. Stocks: Futures Slip Ahead Of Yellen Speech
08/22/201409:16:32MARKET SNAPSHOT: U.S. Stocks Eye Weekly Gains, But Futures Dip...
08/21/201412:57:13Indonesian Court Upholds Widodo's Electoral Win -- 2nd Update
08/20/201417:24:34TECH STOCKS: Tech Stocks Weaken Ahead Of H-P's Earnings

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