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.
Cisco's CEO John Chambers no longer dictates the moves in the broader stock market. Or even just the Nasdaq. Stocks were relatively flat Thursday.
But he still must be smiling. Cisco's (CSCO) stock rallied more than 10% following a blowout quarter.
Chambers told investors that he's encouraged by the "good signs" he sees in the economies of the United States and the rest of the world. Several traders on StockTwits shared MOREMaureen Farrell - May 16, 2013 12:10 PM ET
It's been a rough week for Apple. And it's only Tuesday.
Apple (AAPL) shares slid 1.4% to $431.82 in afternoon trading.
The selling came after Jefferies analyst Peter Misek issued an unflattering report on Apple, adding to a string of negative research published on the company this week.
Misek cut his estimate for iPhone sales, lowered his price target to $420 a share and said there is a 25% chance Apple will miss MOREBen Rooney - Mar 12, 2013 1:25 PM ET
The great rotation in the technology sector continues.
Google (GOOG) shares are trading at record highs above $800, while Apple (AAPL) continues to plumb new lows.
Apple's fall from grace isn't directly related to Google's new-found darling status, but the trend is a significant turnabout.
Once the most valuable company on earth, Apple's stock has fallen 42%, dropping from an all-time trading high of $705 in September to a new 52-week low of $419 on MOREMar 5, 2013 12:48 PM ET
Investors may be worried that certain "old" tech companies have lost their way. But that's clearly not the case with IBM (IBM).
Big Blue reported earnings Tuesday that topped forecasts, news that sent shares up more than 5% Wednesday morning. IBM is now trading just 2.5% below its all-time high ... not bad for a more than 100-year old company.
In fact, IBM was the main reason that the whole market MOREPaul R. La Monica - Jan 23, 2013 12:19 PM ET
Facebook is joining a new social network -- the Nasdaq-100 to be precise.
The California-based social media company will join the elite index on Dec. 12, replacing Infosys, an Indian tech company that is moving its U.S. listing to the New York Stock Exchange.
The move is not exactly a surprise. The Nasdaq-100 includes the 100 largest non-financial securities trading in the market. And with a market capitalization of around $60 billion, Facebook MORECharles Riley - Dec 4, 2012 11:41 PM ET
Amazon.com is in advanced negotiations to buy the mobile chip business of Texas Instruments, according to Israeli newspaper Calcalist, which would put the online retail giant on the path to becoming a manufacturer of smartphone and tablet processors.
Shares of Dallas-based TI (TXN) rose nearly 3% following the report, while shares of Amazon (AMZN) declined slightly.
Amazon's Kindle Fire tablet is currently powered by a TI processing chip, and the company has MOREHibah Yousuf - Oct 15, 2012 12:44 PM ET
Advanced Micro Devices became the latest victim of the sluggish PC market Friday, after the chipmaker warned that third-quarter revenue could decline 10% from the previous quarter.
AMD's shares tumbled 14% following the warning.
The gloomy projection comes as the company faces "weaker than expected demand across all product lines caused by the challenging macroeconomic environment," and is far worse than what the company's management was originally expecting. In July, AMD said it MOREHibah Yousuf - Oct 12, 2012 5:40 PM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
Happy 14th birthday, Google!
Sure, Google (GOOG) doesn't officially recognize its anniversary until September 27. That's when you'll see the celebratory doodle. But the search engine leader was incorporated on September 4, 1998. So as far as MOREPaul R. La Monica - Sep 4, 2012 1:40 PM ET
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