The tech sector is trading slightly lower today along with losses in the broader market. Semiconductors are showing relative weakness in the tech space with the Philly Semi Index trading 1.4% lower. STM (-3.9%) is a notable laggard in the chip index. Among other major indices, the S&P 500 is trading 0.1% lower, while the NASDAQ is trading 0.1% lower and the QQQ is trading 0.1% lower on the session. Among tech bellwethers, AAPL (+1.3%) is showing strength, whereas INTC (-1.1%) is a notable underperformer.
In earnings last night, HPQ (-3.1%) reported a slight Q4 earnings beat, but guided lower. Elsewhere, ADI (-3.4%) reported a Q4 miss and guided lower, while BRCD (+12.5%) posted a beat.
Among notable analyst ratings changes this morning, Needham upgraded NVDA (+2.2%) to Buy, while INTC (-1.1%) and ALSK (-6.5%) were downgraded to Underperform at Raymond James.
NUAN (-1.2%) is the notable name in tech scheduled to report results today after the close.






