The Nasdaq 100 was down 0.55% at the close on Friday, and has remained flat year-to-date. The Technology Select Sector Index (IXT) was down 0.53%.
There have been concerns about enterprise demand following Intel’s (INTC) earnings, which missed EPS estimates. The company has a flat outlook for the year, reflecting concerns about the enterprise segment.
The decline in the Nasdaq was primarily led by Intel’s stock price decline of 3.6%. The concerns over enterprise demand also caused Microsoft’s (MSFT) share value to go down 1.38%.
By Bill Maurer: As summer temperatures continue to rise, the stock market continues to push through earnings season. One of the hottest sectors this time around is the social media space. A number of better than expected reports from these names have pushed these stocks sharply higher in a short period of time. Many of these names have become overheated, and it seems like a giant bubble is forming.
By Michael Johnston:Global X became the latest issuer to offer an ETF targeting a segment of the global technology industry this week, rolling out the first ETF to specifically target the social media industry. The new Global X Social Media Index ETF (SOCL) will seek to replicate the Solactive Social Media Index, a benchmark that includes companies engaged in various aspects of the rapidly-expanding social media industry.
Bruised, bloodied and left for dead. That’s the only way you could describe social media stocks after investors started selling back in September.
But all that could change in just a few short days. More on this idea in just a second…
During his visit to officially announce the new accelerator space open, the Deputy Prime Minister, Nick Clegg, said he had seen some “amazing examples” of young people turning great ideas into companies promoting social change.
Charlene Li, the founder of the Altimeter Group consultancy in San Mateo, Calif., has built a reputation as one of the savviest thinkers around on social media and Web technologies. She spoke to The Financialist about how companies can better understand the impact social media has on their bottom lines.
The Financialist: What are marketers afraid to ask publicly about social media?