It was a bloody day for technology stocks on Wall Street, as investors punished the entire sector after Google and Microsoft both delivered disappointing earnings results.
Microsoft (MSFT) took the worst beating, plunging more than 11% -- its worst one-day drop since January 2009. The company badly missed Wall Street's profit forecasts after taking a huge write-down on its Surface tablet last quarter.
That bad news as was a hot topic among traders on StockTwits, with some speculating that more pain is on the way for Microsoft.
And the calls for ousting Microsoft CEO Steve Ballmer grew louder once again.
But some traders remained optimistic, noting that Surface sales could improve as Microsoft releases updated versions.
Other pinned their hopes on the company's Xbox One video game console.
Google (GOOG) shares were also lower Friday, but investors weren't nearly as frustrated with the search giant's miss. The stock declined less than 2%. In fact, after hitting a three-week low within the first 15 minutes of trading, the stock began to trim its losses.
In fact, Apple (AAPL), which reports earning next week, was down more than 1%, as it declined alongside the rest of the tech sector.
While the comparisons between Google and Apple mostly came down in favor of Google, one trader suggested that perhaps Google investors should take a lesson from Apple's recent slide. The stock dropped a whopping 45% from the all-time high in September through mid-April. Apple shares have since begun to recover, but remain a sizable 40% below the record high.
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks.
Just call Microsoft the Seattle Not-So SuperSonics.
Microsoft (MSFT) CEO Steve Ballmer is part of a MOREPaul R. La Monica - Jan 10, 2013 1:10 PM ET
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