Wall Street Just Put the Brakes on These 2 Nasdaq Tech Stocks
The stock market remained choppy on Wednesday, but certain segments of the market held up better than others. As of 11:15 a.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 52 points to 14,382, but the index had been off nearly 200 points at one point earlier in the session.
Technology stocks have generally done quite well over the long haul, and that's helped bolster the Nasdaq to greater performance than some of its stock market index peers. However, analysts on Wall Street are starting to look more critically at some of the companies that have done well in the space. On Wednesday, shares of Seagate Technology (NASDAQ: STX) and CDW (NASDAQ: CDW) were broadly lower, as some negative comments from professionals following the stock raised questions about their ability to keep participating in the longer-term tech rally.
Shares of Seagate Technology were down almost 6% on Wednesday morning. The maker of hard disk drives and other computer storage solutions got negative comments from analysts at Morgan Stanley as part of a broader set of negative comments about hardware companies in general.
Source Fool.com
