Technology stocks (QQQQ), the market leader during the 2009 to 2010 recovery, continue to underperform the broader market. Apple (AAPL), the captain of the recovery, has reported two back-to-back blowout quarters yet continues to trade sideways to down over the past 4 months. Neither fiscal Q2 nor fiscal Q3 earnings reports have led to any advances in Apple’s stock price suggesting that market leadership is starting to weaken. Instead of leading the market higher, Apple, Microsoft (MSFT), Google, (GOOG), Intel (INTC), Cisco (CSCO) and other large cap bellwethers have been following, rather than leading the broader market. While Apple specifically has held up remarkably well in this correction, it barely participated in the July rally. In fact, industrial names have been leading the market lately, which is generally not a good sign for the overall market.
We have been warned. What has Apple stock done since iPhone4? The company is supposed to be the leader in technology sector ...
HPQ could not even make a slight recovery after Hurd's news. Yesterday INTC was down 4%, AMD down 8%, DELL down 4+% and the list goes on. |
