On Friday, disappointing earnings from major tech companies Google and Microsoft stalled the market’s recent run. The tech-oriented Nasdaq Composite index declined 0.66 percent to close at 3,587.61. Technology stocks within the S&P 500 Index have gained just approximately 8.3 percent year-to-date, compared to an 18.6 percent gain for the index as a whole. The industry is just one of four in the index that is expected to experience a contraction in earnings growth for the second quarter. The S&P 500 Index is on pace to for its highest gain since 2009 (23.5 percent).
Advanced Micro Devices, Inc. (NYSE: AMD) shares traded in the range of $3.85 to $4.08 Friday before settling to close at $4.03, a decrease of 13.15 percent. The stock appears to be facing some resistance at the $4.03 and $4.20levels with some support at $3.87. Shares of Advanced Micro Devices have gained approximately 63.8 percent in 2013.
More information on Advanced Micro Devices and access to the free equity report can be found at:
Google Inc. (NASDAQ: GOOG) shares traded in the range of $875.61 to $902.95 Friday before settling to close at $896.60, a decrease of 1.55 percent. The stock appears to be facing some resistance at $901.20 with some support at the $889.74 and $881.86 levels. Shares of Google have gained approximately 26.7 percent in 2013.
More information on Google and access to the free equity report can be found at:
Intel Corporation (NASDAQ: INTC) shares traded in the range of $22.81 to $23.15 Friday before settling to close at $23.04, down 3.6 percent for the week. The stock appears to be facing resistance at the $23.14 and $23.72 levels with some support at $22.26. Shares of Intel have gained approximately 11.7 percent in 2013.
More information on Intel and access to the free equity report can be found at:
Microsoft Corporation (NASDAQ: MSFT) shares traded in the range of $31.02 to $32.67 Friday before settling to close at $31.40, a decrease of 11.40 percent. The stock appears to be facing some resistance at the $32.59 and $32.94 levels with some support at $30.31. Shares of Microsoft have gained approximately 17.5 percent in 2013.
More information on Microsoft and access to the free equity report can be found at:
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