Tech Stocks Dip Amid Broader Market Decline on July 12, 2005

Strategic Insights -

As the broader market drifts lower amid a surge in oil prices, technology stocks also posted modest losses in early trading on July 12, 2005. The tech-rich Nasdaq Composite Index inching lower by 4 points to 2,130.05, with the Amex Computer Technology Index adding a modest 0.55 points. The Amex Networking Index added 3.37 points, while the Philadelphia Semiconductor Index tacked on 0.63 points. Heavyweights like Apple Computer Inc., Cisco Systems Inc., and International Business Machines Corp. posted gains, but were offset by losses from Dell Inc., Microsoft Corp., and Oracle Corp.

Key Takeaways:

  • The Nasdaq Composite Index dipped by 4 points to 2,130.05, indicating a decline in technology stocks on July 12, 2005.
  • The Amex Computer Technology Index added 0.55 points, suggesting a modest gain in computer-related stocks.
  • The Amex Networking Index added 3.37 points, indicating a rise in networking stocks.
  • The Philadelphia Semiconductor Index tacked on 0.63 points, showing a gain in semiconductor stocks.
  • Heavyweights such as Apple Computer Inc. (AAPL), Cisco Systems Inc. (CSCO), and International Business Machines Corp. (IBM) posted gains.
  • Dell Inc. (DELL), Microsoft Corp. (MSFT), and Oracle Corp. (ORCL) dipped, indicating losses in these major tech companies.
  • Intel (INTC), the world's largest chip company, fell 21 cents to $27.49, amid a raid by the European commission into possible antitrust violations.
  • Rival Advanced Micro Devices (AMD) alleged in a lawsuit that Intel is using its market muscle to prevent the sales of its products.

Statistics:

  • Over 2,130 points, the Nasdaq Composite Index declined by 4 points.
  • The Amex Computer Technology Index rose by 0.55 points.
  • The Amex Networking Index added 3.37 points.
  • The Philadelphia Semiconductor Index tacked on 0.63 points.
  • Intel (INTC) shares fell by 21 cents to $27.49.
  • Advanced Micro Devices (AMD) alleged in a lawsuit that Intel's market share has prevented the sales of its products.

Sources:

  • Dow Jones Commodities News Select via Comtex
  • Dow Jones & Company, Inc.
  • COMTEX (http://www.comtexnews.com)
  • European commission
  • Advanced Micro Devices (AMD)
  • International Business Machines Corp. (IBM)
  • Cisco Systems Inc. (CSCO)
  • Apple Computer Inc. (AAPL)
  • Dell Inc. (DELL)
  • Microsoft Corp. (MSFT)
  • Oracle Corp. (ORCL)
  • Intel (INTC)