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.

Related posts:

  1. Advertising is the Tech Sector
  2. Enterprise Buying and the Tech Sector
  3. Ad:Tech: Advertisers are Troglodytes
  4. Tech Stock in the Mirror, What Do I See?
  5. Tech: Cheap After the Tech Wreck?

Comments

  1. RT says:

    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. Brian says:

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