Tech Sector Getting Smoked

Ah, so much for the Intel bulls. On a downgrade today, Intel is getting hammered — and taking all of tech with it. Check the overall market map for a sea of red, with tech standing out:

market-map

Now, here is tech itself with some of the biggest losers today highlighted:

tech-map

Question: How has tech gone from hero to zero so fast? Answer: It hasn’t.

What has happened, however, is that earnings-nervous investors have recently been running from value stocks to growth. As a result, when there is even a whiff that tech is less “safe” (a dubious notion to begin with) than they thought, as happened this morning, the very narrow sector — Google, Apple, RIMM, Amazon, Intel, etc. — sells off with a vengeance.

Some highlights: Dell -5.7%, Broadcom -5.3%, Apple -3.2%, Google -2.3%, and Intel -7.3%. Oh, ouch.

Comments

  1. Hi Paul,
    Happy new year and thanks for the always valuable blog entries!
    Question – where are these images from? What program are you using to follow the markets?
    Many thanks,
    RT

  2. RT – These are made using SmartMoney’s market map: http://www.smartmoney.com/marketmap/