On Wednesday US tech sector companies closed with a mix of gains and losses. There is still a large amount of uncertainty going on between investors and analysts about easing on government bond buying program. One serious indicator of whether economy is ready for a stimulus reduction is the Q1 GDP data which should be available one hour before the US stock market opens today.
Despite the decline of Nasdaq tech index by 0.61% some of the companies in the industry have managed to record a gain in their price share. Apple closed at a gain of 0.80% following their CEO appearance on Tuesday night at the D11 conference sponsored by AllThings D technology blog. Cook stated Apple was “incredibly interested” in wearable technology but didnt say much about what product company is working on.
Hewlett-Packard Co. recorded gain of 2.39%, Western Digital Corp. climbed by 1.38%, Cisco continued its upward movement with 0.96% and IBMs price shares remained almost unchanged with a slight raise of 0.07%.
On the losers side numerous companies shares dropped which offsets the gainers. Among those were Facebook dipping with 3.24% after the company failed to acquire social mapping and navigation company Waze. The company is also changing some internal policies related to cutting posts of cruel or inappropriate content such as graphic images and messages against women.
Amazon Inc. lost 0.66% share price. The company is launching 5 shows produced by Amazon Studios. Netflix shares tried to jump back after a significant decline a day ago but came short with only a 0.54% climb. The premier of “Arrested Development” show presented by the company wasnt accepted well by its public which is the main reason of the struggling company shares.
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