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Mon, Dec 01, 2008 - 03:47 PM EST  —  AAPL: 90.62 (-2.05, -2.21%)  |  NASDAQ: 1419.64 (-115.93, -7.55%)

Tech tumbles as broader market retreats over oil concern
Monday, July 28, 2008 - 04:35 PM EST

Apple Online Store
"Technology stocks tumbled Monday as the broader market slipped on concern about climbing crude prices," Benjamin Pimentel reports for MarketWatch.

"The Nasdaq Composite Index lost 46.31 points, or 2%, to close at 2,264.2 points. The Morgan Stanley High Tech 35 Index also lost 2% while the Philadelphia Semiconductor Index fell 1.9%," Pimentel reports.

"The tech sector's biggest names were in negative territory," Pimentel reports. "Apple Inc. (AAPL: 154.40, -7.72, -4.8%) and Yahoo Inc. (YHOO: 20.12, -1.01, -4.8%) both lost 4.8%, Google Inc. (GOOG: 477.32, -14.66, -3.0%) was down 3% and Advanced Micro Devices Inc. (AMD: 4.19, -0.17, -3.9%) was behind 3.9%."

More in the full article here.

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Reader Feedback: ( = registered)

Jul 28, 08 - 03:46 pm Comment from: That Mac Guy

A bit of over reaction by the market on broad economic pessimism.... soon to be overcome at least by AAPL by the mystery announcement!

Also.... First

Jul 28, 08 - 04:14 pm Comment from: i want my iTele

All we have to do is use Apple's soon to be announced iTele. Just think, your own personal teleportation system that you can use to teleport anywhere in the world. Just teleport to an oil rich country, load up on a few buckets of oil, and teleport back.

Jul 28, 08 - 04:22 pm Comment from: Macromancer

"All we have to do is use Apple's soon to be announced iTele."

People will complain that the teleportation is exclusive to Apple approved locations and they will wait for iTele 2.0.

Jul 28, 08 - 04:37 pm Comment from: Zoink!

2000: Gov. George W. Bush of Texas said today that if he was president, he would bring down gasoline prices through sheer force of personality, by creating enough political good will with oil-producing nations that they would increase their supply of crude.

''I would work with our friends in OPEC to convince them to open up the spigot, to increase the supply,'' Mr. Bush, the presumptive Republican candidate for president, told reporters here today. ''Use the capital that my administration will earn, with the Kuwaitis or the Saudis, and convince them to open up the spigot.''

I guess that isn't going to happen.

Jul 28, 08 - 04:39 pm Comment from: i want my iTele

"People will complain that the teleportation is exclusive to Apple approved locations and they will wait for iTele 2.0."

No!!! This can't happen since I've sold everything I own on ebay to invest in the iTele lifestyle.

Jul 28, 08 - 04:46 pm Comment from: GizmoDan

Why does AAPL always go down faster that the NASDAQ? Also seems to go up faster. Jitters? Investors feel it AAPL is an expendable luxury if the market fails bad enough?

Jul 28, 08 - 05:29 pm Comment from: Cubert

"Tech tumbles as broader market retreats over oil concern"

By far, the most bizarre MDN headline yet.

Jul 28, 08 - 05:37 pm Comment from: Yours Smugly

Peak Oil is coming.

Jul 28, 08 - 06:02 pm Comment from: Alec

Teleporting at 3g speeds is way to slow. Too slow to be usable. I'm waiting for 4g. I just hope it isn't a battery hog and there is ample nationwide coverage.

Jul 29, 08 - 03:51 am Comment from: Macaday

Nokia, Sony and Samsung get together to create the TTSD898423-teletransporter that will on occasion mislay you...

Jul 29, 08 - 05:14 am Comment from: NeildWheel

I just hope it isn't a battery hog and there is ample nationwide coverage.

More importantly what happens if your battery runs out mid transport?

Jul 29, 08 - 10:08 am Comment from: i want my iTele

From what I understand, the iTele will be an intergalactic release and will be powered by the solar wind. No batteries needed.

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