Tech Sector Bloody as PC Sales Vanish
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Credit Agricole Downgrades Microsoft (MSFT) to Outperform
April 12, 2013 7:26 AM EDTCredit Agricole downgraded Microsoft (NASDAQ: MSFT) from Buy to Outperform with a price target of $34.00 (from $36.00).
For an analyst ratings summary and ratings history on Microsoft click here. For more ratings news on Microsoft click here.
Shares of Microsoft closed at $28.94 yesterday, with a 52 week range of $26.26-$32.89.... More
Argus Downgrades Intel (INTC) to Hold
April 11, 2013 1:07 PM EDTArgus downgraded Intel (NASDAQ: INTC) from Buy to Hold.
For an analyst ratings summary and ratings history on Intel click here. For more ratings news on Intel click here.
Shares of Intel closed at $22.26 yesterday, with a 52 week range of $19.23-$29.27.... More
HP (HPQ) Declines, PC Bear Says He Wasn't Bearish Enough
April 11, 2013 10:36 AM EDTShares of Hewlett-Packard (NYSE: HPQ) opened lower on Thursday, a decline tied to an IDC report that showed a steep drop in Q1 PC sales. The report showed HP's units were down 24 percent year-over-year and Dell (Nasdaq: DELL) units down 11 percent, while... More
Hard Drive Makers Caught Up in Tech Slide (WDC) (STX)
April 11, 2013 10:07 AM EDTHard drive makers Western Digital (NYSE: WDC) and Seagate Technology (NYSE: STX) can't avoid the carnage in tech following dismal PC numbers after the close.
PC shipments fell 14 percent in Q1, the worst decline on record, according... More
Hilliard Lyons Downgrades Microsoft (MSFT) to Neutral
April 11, 2013 9:14 AM EDTHilliard Lyons downgraded Microsoft (NASDAQ: MSFT) from Buy to Neutral.
For an analyst ratings summary and ratings history on Microsoft click here. For more ratings news on Microsoft click here.
Shares of Microsoft closed at $30.28 yesterday, with a 52 week range of $26.26-$32.89.... More
Nomura Securities Downgrades Microsoft (MSFT) to Neutral, Stock Still OK For Value Investors
April 11, 2013 8:20 AM EDTNomura Securities downgraded Microsoft (Nasdaq: MSFT) from Buy to Neutral with a price target of $32. Data yesterday pointed to an 11 to 14 percent decline in Q1 PC sales. This coupled with the stock's recent run above $30 per share has analyst Rick Sherlund moving to the... More
Goldman Cuts Microsoft (MSFT) to Sell; PC, Tablet/Smartphone Issues Too Large to Ignore
April 11, 2013 6:52 AM EDTGoldman Sachs cut its rating on Microsoft (Nasdaq: MSFT) from Neutral to Sell on Thursday and trimmed its price target from $30 down to $27, citing worsening PC trends and lack of traction in smartphones and tablets.
Goldman commented that its hardware team updated its PC and tablet forecast on April 2, 2013 and is "now expecting PC market share to decline from 73% in 2012 to 65% in 2013 and 59% in 2014." The outlook indicates faster erosion than the team's prior forecast for "PC market share of 67% in 2013 and 63% in 2014."
Microsoft's management team is likely to stick with Windows 8... More
Tech ETFs Uneasy after Weakest PC Decline on Record (IYW) (XLK) (SMH)
April 10, 2013 5:01 PM EDTTech ETFs like iShares Dow Jones U.S. Technology Sector Index Fund (NYSE: IYW), Technology Select Sector SPDR (NYSE: XLK) and Market Vectors Semiconductor ETF (NYSE: SMH) could be in trouble come... More
PC Shipments Fall Off Cliff in Q1, Down 14%
April 10, 2013 4:18 PM EDTPC shipments fell 14 percent in Q1, the worst decline on record, according to reports from researchers at IDC. Analysis showed buyers opted to splurge on tablets and smartphones, leaving PCs to collect dust. Researchers had forecast a decline of only 7.7 percent.
"We don't have a lot of... More
