HEXUS.sharewatch: US economic concerns drive prices down

by Scott Bicheno on 28 June 2010, 17:57

Tags: NVIDIA (NASDAQ:NVDA), Ingram Micro (NYSE:IM), ARM

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There are growing fears of a stall in the global economic recovery, follow one recent data from the US. The housing market over there, in particular, seems to be struggling, with the news that sales of new homes fell to their lowest level ever in May.

Most PC-related shares are quick to respond to changes in the macroeconomic situation as sales of PCs are heavily influenced by end-user demand. As a consequence, following the housing news and a not especially view of the economy from the Federal Reserve, as it announced it was going to keep interest rates at their historical low, investors got nervous.

Several of our shares fell by nearly ten percent over the course of the week, including NVIDIA, Ingram Micro and AMD. None of them escaped the general drop, but UK low-power chip designer ARM continued to out-perform the overall market.

 

Company Listing Share price 7/6/10 Share price 14/6/10 Share price 21/6/10 Share price 28/6/10 7-day change Market cap (bn)
AMD AMD 8.10 8.12 8.83 8.09 -8.4% 5.45
Apple AAPL 255.96 253.51 274.07 266.70 -2.7% 242.68
ARM ARMH 11.32 12.79 12.86 12.79 -0.5% 5.61
Avnet AVT 26.58 26.99 27.92 25.76 -7.7% 3.91
Cisco CSCO 22.95 22.91 23.49 22.18 -5.6% 126.69
Dell DELL 13.24 13.15 14.04 12.93 -7.9% 25.33
Google GOOG 498.72 488.50 500.03 472.68 -5.5% 150.54
HP HPQ 46.05 47.19 47.98 45.92 -4.3% 107.20
IBM IBM 125.28 128.45 130.15 127.12 -2.3% 163.01
Ingram Micro IM 16.53 17.21 17.44 15.80 -9.4% 2.61
Intel INTC 20.94 20.64 21.40 20.03 -6.4% 111.46
Microsoft MSFT 25.79 25.66 26.44 24.53 -7.2% 215.00
Nokia NOK 9.58 9.54 8.90 8.25 -7.3% 30.90
Nvidia NVDA 12.10 11.61 12.30 11.08 -9.9% 6.34
Oracle ORCL 22.13 22.69 23.20 22.66 -2.3% 113.73
Qualcomm QCOM 35.30 35.36 35.69 34.57 -3.1% 56.71
Tech Data TECD 38.95 40.02 40.70 38.28 -5.9% 1.94
Dow .DJI 9931.97 10211.07 10450.64 10143.81 -2.9% N/A
FTSE 100 .FTSE 5114.49 5196.96 5250.84 5046.47 -3.9% N/A
NASDAQ .IXIC 2219.17 2243.60 2309.80 2223.48 -3.7% N/A


HEXUS Forums :: 2 Comments

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Posted by Brewster0101 - Mon 28 Jun 2010 19:32
Well in the UK, a double dip recession would be a good thing.

We've learnt bigger all from the last 24 months. House prices are still too high ( and crazily rising), people are still borrowing too much money and banks are bucking the flow.

I hope we do have a recession and countries like Germany don't. We are such an arrogant and ignorant nation, we could do with being brought to our knees like Greece.

(please note I would hate if we really did hit rock bottom really) - but feel very angry things are no better.
Posted by McEwin - Tue 29 Jun 2010 14:10
I know exactly how you feel and couldn't agree more. Only problem is that labour would blame double dip on coalition gov and every single moron (the majority of Britain) would believe it.