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Semiconductor industry

Technology Sector Bounces Back Amid Mixed Market Conditions

Strategic Insights

— 1 min read

The Technology sector is experiencing a bounce back after a rocky start, with several stocks driving the gains. As of Monday, August 31, 2015, at 12:55 PM ET, the Dow Jones Industrial Average was trading at 16,609, a decrease of 34 points (-0.2%). The NYSE advances/declines ratio was 1,471 issues advancing vs. 1,509 declining, with 154 issues unchanged. Within the Technology sector, top gainers included SanDisk, up 4.7%, Chunghwa Telecom, up 1.6%, and NTT DoCoMo, up 1.4%. The sector's gains were led by Twitter, which rose $1.46 (5.4%) to $28.29 on heavy volume.

Key Takeaways:

  • The Technology sector is experiencing a bounce back, driven by gains in SanDisk, Chunghwa Telecom, and NTT DoCoMo.
  • Twitter is leading the sector's gains, up 5.4% to $28.29 on heavy volume.
  • Intel is also posting gains, up 2.2% to $29.05 on average volume.
  • Apple remains strong, up 1.0% to $114.38 on average volume.
  • TheStreet Ratings rates Twitter as a sell, citing historical performance, but Intel as a buy, citing strong financials, attractive valuation, and notable return on equity.
  • Apple is rated as a buy, citing solid stock price performance, impressive record of earnings per share growth, and compelling growth in net income.

Statistics:

  • The Dow Jones Industrial Average was trading at 16,609, a decrease of 34 points (-0.2%).
  • The NYSE advances/declines ratio was 1,471 issues advancing vs. 1,509 declining, with 154 issues unchanged.
  • The Technology sector was trading up 0.4%, with SanDisk up 4.7%, Chunghwa Telecom up 1.6%, and NTT DoCoMo up 1.4%.
  • Twitter was up 5.4% to $28.29 on heavy volume, with 18.8 million shares exchanged.
  • Intel was up 2.2% to $29.05 on average volume, with 18.2 million shares exchanged.
  • Apple was up 1.0% to $114.38 on average volume, with 28.0 million shares exchanged.

Sources:

  • TheStreet Wire, August 31, 2015: "All three major indices are trading down today..."
  • TheStreet Wire, August 31, 2015: "The NYSE advances/declines ratio sits at 1,471 issues advancing vs. 1,509 declining..."
  • TheStreet Wire, August 31, 2015: "The Technology sector currently sits up 0.4% versus the S&P 500..."
  • TheStreet Wire, August 31, 2015: "Top gainers within the sector include SanDisk, up 4.7%..."
  • TheStreet Wire, August 31, 2015: "TheStreet Ratings rates Twitter as a sell..."

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