The Industry Standard - Large-cap technology stocks fade in late-afternoon trading - Comments

If only I had $10M (real

David Kuan — Wed, 08 Oct 2008 17:28:11 -0700

If only I had $10M (real US$), I would be on a buying spree :(

Over the last 30 days alone,

Eric Hill812251 — Wed, 08 Oct 2008 14:23:34 -0700

Over the last 30 days alone, the NASDAQ has shed over 500 points. Over the last year, losses total to around 1,050 points. We're now at levels we haven't seen since mid-2003.

Layoffs at big tech companies seem inevitable under this kind of pressure. EBay announced 1,600 job cuts yesterday. It seems logical to think more are on the way from other tech firms as investments continue to contract.

Large-cap technology stocks fade in late-afternoon trading

Ian Lamont — Wed, 08 Oct 2008 13:15:19 -0700

Large U.S.-listed technology stocks were hurt in a late-afternoon selloff on Wednesday. Even though the Nasdaq declined less than 1% and the Nasdaq Internet Index rose slightly, a small group of Internet, software and hardware companies with large market capitalizations saw significant declines. Yahoo and IBM both lost more than 5% after negative analyst commentary. Google also continued its downward trajectory, closing below $340. Microsoft was down nearly 1%.

However, there were a few bright spots: eBay climbed more than 3% after an analyst's upgrade. Intel rose nearly 1.5%, and Apple also gained back some ground, although not enough to break the $90 mark.

Source: Google Finance