Hewlett-Packard Company (HPQ), Microsoft Corporation (MSFT): Dow Jones Industrial Average (.DJI) Keeps Heading North, but Tech Takes a Hit

Microsoft Corporation (NASDAQ:MSFT) is down 4.9% following the news. The company was dealt a double blow when Goldman Sachs Group, Inc. (NYSE:GS) downgraded it this morning, stating that its continued losses in market share and weak performance in entering the consumer electronics market is troubling. Mr. Softy is also partially being blamed for the slowdown in PC sales, due to Windows 8. The drastic change in user interface has been questioned, with some consumers feeling confused with the new OS, according to IDC’s Bob O’Donnell.

Intel Corporation (NASDAQ:INTC) and its rival Advanced Micro Devices, Inc. (NYSE:AMD) are both feeling the losses, down 2.65% and 3.07%, respectively. Since both are heavily reliant on the PC market, any slowdown would be a big hit to revenue. Though Intel’s latest efforts have made it a contender in the Chinese mobile market, it has a long way to go to gain real market share. Advanced Micro Devices, Inc. (NYSE:AMD) has also been working outside the PC, with several new game consoles expected to feature its new Jaguar processor that combines the console’s CPU and graphics capabilities onto one chip.

The article Dow Keeps Heading North, but Tech Takes a Hit originally appeared on Fool.com and is written by Jessica Alling.

Fool contributor Jessica Alling has no position in any stocks mentioned, but you can contact her here. The Motley Fool recommends Goldman Sachs and Intel. The Motley Fool owns shares of Intel and Microsoft.

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