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:
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at www.WallStreetFundamentals.com today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Wall Street Fundamentals