Nasdaq, the Dies irae – Macitynet.it
It is a truly terrible day for the share prices of companies that make computers. All the major players, from Dell to Compaq, from IBM to HP to end with Apple are in heavily negative territory. Yesterday's announcement that came to markets closed by Gateway of profits below expectations caused the collapse of the shares. The Texan company, which represents the fourth largest computer manufacturer in America, has made it known to analysts and investors that its turnover will be half a million dollars below expectations without any growth compared to the same period of the previous year. Worse still Gateway has announced that the dividend for the current quarter will be slightly more than half of what is expected: 37 cents against the estimated 62 cents. This was enough to cause a real stampede of investors. Among the most affected stocks, in addition to that of Gateway (which at the time of writing has marked a -37%) also that of Microsoft (-10%). But, as mentioned, the whole sector suffers terribly even if in this final session the losses are decreasing and the Nasdaq, which had reached a -6%, now attested to a more acceptable -2%. In any case, the prices of the technology have fallen by 50% compared to the highs reached in March (at the time the Nasdaq was at 5000). Apple in this context is no exception and pays the price. Despite, as mentioned yesterday, AAPL is 60% cheaper than its highs, it continues to lose and at the time of writing, it is placed at -4.50%. The conviction of market observers that investors, who in recent years have gained much on technology, they were waiting for a good opportunity for the great escape from the sector and the opportunity was offered by the news leaked yesterday of a generalized drop in sales in the USA and by the poor performance of an important manufacturer such as Gateway. When the bottom of the well has been reached, but when this happens nobody can say, it may take years to regain the lost ground.