Technology Sector Sees Mixed Performance Amid Market Volatility

Strategic Insights -

As of Monday, Aug. 24, 2015, the Technology sector is experiencing mixed performance, with SolarCity leading the gains at 15.0%. Other top gainers include ASML, Avago Technologies, Taiwan Semiconductor Manufacturing, and Texas Instruments, up 2.8%, 2.9%, 2.6%, and 1.6%, respectively. On the negative side, Philippine Long Distance Telephone, Telekomunikasi Indonesia, Nippon Telegraph & Telephone, China Telecom, and BCE are down 7.5%, 3.7%, 3.7%, 3.3%, and 3.2%, respectively. The sector is currently down 1.2% compared to the S&P 500's 1.1% decline.

Key Takeaways:

  • Micron Technology (MU) is one of the top gainers in the sector, up 4.1% to $15.13 on heavy volume.
  • Intel (INTC) is also seeing significant gains, up 3.5% to $27.49 on heavy volume.
  • Apple (AAPL) is up 2.1% to $107.94 on heavy volume, pushing the sector higher.
  • The Technology sector is experiencing mixed performance, with top gainers in SolarCity, ASML, Avago Technologies, Taiwan Semiconductor Manufacturing, and Texas Instruments.
  • The sector has 17 analysts who rate Micron Technology a buy, no analysts rate it a sell, and 11 rate it a hold.
  • TheStreet Ratings rates Micron Technology as a hold, citing its solid financial position, reasonable valuation levels, and expanding profit margins.
  • Intel has a market cap of $134.8 billion and is part of the electronics industry, with 17 analysts who rate it a buy, 5 analysts rate it a sell, and 8 rate it a hold.
  • TheStreet Ratings rates Intel as a buy, citing its solid financial position, notable return on equity, attractive valuation levels, and expanding profit margins.
  • Apple has a market cap of $655.9 billion and is part of the consumer durables industry, with 20 analysts who rate it a buy, no analysts rate it a sell, and 12 rate it a hold.
  • TheStreet Ratings rates Apple as a buy, citing its solid stock price performance, impressive record of earnings per share growth, and robust revenue growth.

Statistics:

  • The Dow Jones Industrial Average (DJI) is trading down 237 points (-1.4%) at 16,223.
  • The NYSE advances/declines ratio sits at 447 issues advancing vs. 2,727 declining with 57 unchanged.
  • The Technology sector is down 1.2% compared to the S&P 500's 1.1% decline.
  • Micron Technology has a market cap of $17.2 billion.
  • Intel has a market cap of $134.8 billion.
  • Apple has a market cap of $655.9 billion.
  • Micron Technology shares are down 58.5% year-to-date.
  • Intel shares are down 26.8% year-to-date.
  • Apple shares are down 4.2% year-to-date.
  • TheStreet Ratings rates Micron Technology as a hold.
  • TheStreet Ratings rates Intel as a buy.
  • TheStreet Ratings rates Apple as a buy.

Sources:

  • TheStreet Wire
  • TheStreet
  • TheStreet.com
  • Yahoo Finance
  • Quicken Loans
  • TheStreet Ratings Report.