Investors didn't have much of a reaction to the S&P's upgraded outlook on U.S. debt today, and both the Dow Jones Industrial Average (^DJI 0.40%) and S&P 500 (^GSPC 1.02%) have been flat for most of the trading day. At 3:20 p.m. EDT the indexes were both within a point of breakeven, but tech stocks weren't so quiet.
Intel (INTC -9.20%) is up 1.7%, partly on reports that the company is getting closer to launching a television service. These rumors have been floating around for a while now, but Intel seems closer to closing a deal than it has ever been before. Apple (AAPL -0.35%) also said a Haswell chip and Thunderbolt ports are key features of the new Macbook Air and Mac Pro, both announced at the Worldwide Developers Conference today. These aren't new wins for Intel, but they keep the company involved with a key customer.
Speaking of Apple, the company's event today announced iWork for the iCloud, a direct shot at Microsoft Office. The new Web-based productivity tool will be integrated with Apple devices, but it is more interoperable with Office as well.
The other pressure on Microsoft is the announcement that Xbox One would be $499 at launch. That likely prices a lot of consumers out of the device Microsoft was trying to make a centerpiece of the living room. Price seems to be a challenge for Microsoft hardware, judging by the Xbox One and the Surface tablet. If Microsoft wants to take share from Apple in tablets and smartphones by using the console to pull in customers, this isn't a great way to start.
