Blame Silicon Valley for the Dow's Downside Today

The Dow (INDEX: ^DJI  ) is off 0.2% at midday, pushed down by a variety of technology stocks.

The biggest percentage losers today are Hewlett-Packard (NYSE: HPQ  ) and Intel (Nasdaq: INTC  ) , down 2.3% and 1.8%, respectively. HP staged a short-lived comeback rally earlier this month but is again dangerously close to setting fresh 52-week lows. Investors worry that CEO Meg Whitman's turnaround plans may not pan out -- and rightly so.

Intel shares started 2012 with a market-beating 20% rally but then posted a 22% drop since hitting that peak in May. The chip giant's worries are tied to HP's PC market woes to some degree, but Intel's bigger issue is that repeated attempts to break into the mobile market have been dead ends so far. The problem was underscored this weekend as Apple (Nasdaq: AAPL  ) shipped 5 million iPhone 5 handsets in just three days -- and none of them come with Intel Inside.

Pfizer (NYSE: PFE  ) did its best to pull the Dow back into positive territory, posting a 0.8% gain thanks to early-stage approvals for a stroke-prevention drug and a decision by Moody's to raise its credit outlook for the pharmaceutical industry as a whole. But because of the company's low share price, Pfizer's jump only added one measly point to the Dow's total value.

Mobile computing is a trillion-dollar revolution that's just getting started. Find out all about this wealth generator in our special report on the mobile market, which highlights one surefire winner in a crowded field. The name might surprise you.

Fool contributor Anders Bylund holds no position in any of the companies mentioned. Check out Anders' holdings and bio, or follow him on Twitter and Google+. Motley Fool owns shares of Intel and Apple. Motley Fool newsletter services have recommended buying shares of Intel, Moody's, and Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. The The Motley Fool has a disclosure policy.

We Fools may not all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2029230, ~/Articles/ArticleHandler.aspx, 10/23/2016 8:21:52 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/21/2016 4:47 PM
^DJI $18145.71 Down -16.64 -0.09%
AAPL $116.60 Down -0.46 -0.39%
Apple CAPS Rating: ****
HPQ $13.80 Down -0.30 -2.13%
HP CAPS Rating: ***
INTC $35.15 Down -0.28 -0.79%
Intel CAPS Rating: ****
PFE $32.18 Down -0.36 -1.11%
Pfizer CAPS Rating: ****