24/04/2014 13:18:29 Free Membership Login

TECH STOCKS: Apple Slips Below $600, Netflix Retreats

Date : 04/30/2012 @ 10:26AM
Source : Dow Jones News
Stock : Microsoft Corp. (MM) (MSFT)
Quote : 39.41  -0.28 (-0.71%) @ 1:03PM
Microsoft share price Chart

TECH STOCKS: Apple Slips Below $600, Netflix Retreats

Apple (NASDAQ:AAPL)
Historical Stock Chart

2 Years : From Apr 2012 to Apr 2014

Click Here for more Apple Charts.

By Benjamin Pimentel, MarketWatch

Technology stocks were modestly lower Monday morning, led by shares of Apple Inc. which slipped back below the $600 mark.

Apple (AAPL) shed 2% to $590.77 in early trading, as the Nasdaq Composite Index (RIXF) edged down by 0.7% to 3,049. The Philadelphia Semiconductor Index (SOX) also was down a fraction.

Also weighing down the sector were shares of Netflix Inc. (NFLX) which lost more than 3%.

Shares of Nvidia Corp. (NVDA) were off a fraction at $12.96. ThinkEquity analyst Suji De Silva trimmed his price target for the chipmaker's stock to $14 from $15, while maintaining a hold rating.

"We expect Nvidia to benefit from recovering broader demand, but expect consumer PC recovery to be measured and limited near-term upside. We also expect handset revenue headwinds as Samsung transitions to an in-house application processor from Nvidia," he wrote.

Shares of Microsoft Corp. (MSFT) traded mostly flat after the software giant unveiled a digital-reader partnership with bookseller Barnes & Noble, whose shares soared more than 60%.



NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

1 site:2 us 140424 13:18