Published in News
AMD and Nvidia suffer heavy share hits
by Fuad Abazovic on29 September 2008
Update: As well as the rest of the IT market
The IT world is currently suffering a massive hit on the share value. AMD closed on Friday at $5.16 and at press time, is selling for $4.69, or around nine percent down.
Nvidia is doing a bit better, as it opened at $11.32 and it's currently down to $10.86, or just over seven percent down. Intel is doing a bit better, as it opened at $18.76 and is low selling for $18.44 or just under four percent down.
Microsoft is around 2.5 percent down, Yahoo is almost six percent down, while Google is almost seven percent down. The bank and financial crisis is getting to IT.
It is funny to notice that gold is on its way to $900 ($895 at press time) an ounce and you get $1.4395 for 1 euro. By the time we’ve finished the story all companies went a bit more down so we will keep watching the developments.
The New York Stock Exchange just closed its doors and AMD closed at $4.35, which is 15.89% or $0.82 down. This is still slightly better than its 52 week low of $4.05. Nvidia closed at $10.42, which is $1.27, or 10.86 percent down. Microsoft closed at 25.79 or -5.88%, Google went down 7.73 percent and settled at $397.72, down $36.
Apple took a serious hit and is down at $106.61 or -16.87 percent and an hour into after trade it's going down toward -18%. A Morgan Stanley analyst said that Macintosh PCs are not doing that well and that people are likely to spend much less on IT in the months to come.
If you want to stay on the safe side, you can sell your silicone and get some gold at $911.7 an ounce.