Nice Prospects, but Caught in the Undertow
So far in the second quarter, the information-technology sector has joined the crowd as one of the S&P 500 sectors that's showing declines. Only telecom and utilities are up so far in the quarter. Of course, the 12% decline in Apple (AAPL) since April 10 is one of the best known factoids on the planet right now. But there are some tech names continuing to show technical strength to go with their solid earnings and revenue gains, even in the recent market pullback.
Apple supplier Cirrus Logic (CRUS), which designs audio chips, soared nearly 19% on April 26 following its fourth-quarter report. Excluding special items, the company reported income of $0.36 per share in the most recent quarter, up 64% from the year-earlier quarter. Revenue was $110.6 million, up 21%....384 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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