NEW YORK (AP) -- Shares of some of the biggest technology companies headed lower Friday, as the economic uncertainty and tepid outlooks from some of the sector's biggest names worried investors.
Computer and gadget maker Apple Inc. declined nearly 3 percent amid a downturn in the broader market. On Tuesday, Apple posted solid results for its fiscal first quarter but issued a disappointing outlook that sent its shares 11 percent lower. On Friday, Apple was set to close the week down more than 18 percent.
Shares of computer maker Dell Inc. also declined amid fears of a slowdown in PC sales. On Wednesday BMO Capital Markets analyst Keith Bachman lowered his outlook for global PC unit growth to 9.75 percent from 11.2 percent.
"We believe PC sales are highly correlated to GDP, and as a result of a weak economic environment, will be lackluster in (in the first half of 2008) particularly in the United States," the analyst wrote.
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http://biz.yahoo.com/ap/080125/sector_glance_big_tech.html?.v=1
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