Dell, H-P fall on weak PC sales; Facebook up |
| MarketWatch - Jan 11, 2013 |
Tech stocks tried to cut their losses in afternoon trading Friday, but weak sales data on PCs in the fourth quarter continued to weigh on the tech sector as Dell Inc., Hewlett-Packard Co. and Apple Inc. all saw selling pressure.
Dell /quotes/zigman/27952/quotes/nls/dell DELL -1.95% shares fell 1.8% to $10.85. Data released by IDC late Thursday reported that global PC sales fell by 6.4% for the fourth quarter — worse than the drop the firm had predicted earlier. Dell saw its global market share slip to 10.6% from 12.5% in the same period the previous year.
Hewlett-Packard /quotes/zigman/229301/quotes/nls/hpq HPQ -1.82% managed to pick up some market share during the period to end the year in the top position, globally. However, the tech giant’s shares still fell 2% to $15.95.
Apple’s /quotes/zigman/68270/quotes/nls/aapl AAPL -0.32% shares were also in the red, down by $2.50 at $520.93.
Microsoft /quotes/zigman/20493/quotes/nls/msft MSFT +1.05% edged back from its early declines to rise almost 1% to $26.67.
The Nasdaq Composite Index /quotes/zigman/12633936 COMP -0.04% gave up 2 points to slip to 3,119, while the Philadelphia Semiconductor Index /quotes/zigman/1468249 SOX +0.37% and the Morgan Stanley High-Tech Index /quotes/zigman/6015481 MSH +0.23% each eked out small gains.
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- Posted: 2013-01-11 13:52:36
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