However, the tech space wasn't without its fair share of stories today. Let's go right to the top three storylines surrounding tech stocks today.
Tech storyline No. 1: Apple, meet China
Rumors swirled today that Apple
However, another interesting wrinkle today involved reports that Apple could make Baidu
Tech storyline No. 2: Fiber consolidates
The big mover on the day was Opnext
However, as the reality set in that optical plays still can't make money even as Internet traffic continued to expand, investors fled the sector. With Opnext and Oclaro merging, the natural question is, "Can two bad companies make one good one?" My answer to that would be: Don't bet on it. While Oclaro and Opnext promise to create the No. 2 global optical component and module, they're still a combined entity that produces $200 million less in revenue than market leader Finisar. While the optical market always has plenty of promise, the brutal economics of the industry has made price wars and poor bargaining power with major players like Cisco an unfortunate way of life.
Another idea for the road
While tech investors cheered interest rates today and made the market soar, the longer-term opportunity is in the booming global economy. In the past decade, emerging-market consumer spending grew 250%, leaving the growth rates of the U.S. and Europe in the dust. If you're an investor scanning the world for opportunities, look no further than our new report, "3 Companies Set to Dominate the World." In it, Fool analysts select three companies with an international growth opportunity that's simply stunning. The report is free but won't be available forever, so get your copy by clicking here today!
Eric Bleeker owns shares of Cisco. The Motley Fool owns shares of Cisco Systems and Apple. Motley Fool newsletter services have recommended buying shares of Apple and Baidu and creating a bull call spread position in Apple. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, 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.