Tech Stocks Unable To Shake Apple's Steep, Post-Product Launch Decline, Ending Lower As A Group


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Top Tech Stocks

MSFT +1.27%

AAPL -5.62%

IBM +2.01%

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GOOG +0.63%

Steep declines for Apple ( AAPL ) are dragging the combined value of technology stocks in the S&P 500 around 0.5% lower today.

In company news, Baidu Inc. ( BIDU ) is up 5% at $147.60 a share, earlier climbing to a new 52-week high of $148.25 after the Chinese search-engine company was mentioned positively by Citigroup analysts who believe its efforts to better monetize its search results may be advancing better than many believe.

The optimistic outlook also is lifting shares of peer search firm Qihoo 360 Technology Co. Ltd. ( QIHU ), rising nearly 2% to $91.41 each.

In other sector news,

(+) SNX, Agrees to buy IBM's ( IBM ) customer care outsourcing business for $505 million in cash and stock.

(-) AAPL, Investor disappointment with the new iPhones is followed by a slew of fresh analyst downgrades.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities
Referenced Symbols: AAPL , BIDU , IBM , QIHU


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