Today, Facebook Inc (NASDAQ:FB) has dropped the most among the many tech stock, which witnessed a drop in their value. But few tech stock like Amazon.com, Inc. (NASDAQ:AMZN) and Apple Inc. (NASDAQ:AAPL) has gained marginally. The decline and gains of the various tech stock including Facebook, Apple and Amazon were discussed in a Market Watch article.
Tony Wible, the Janney Capital Markets analyst had earlier cut his ratings on the Facebook Inc (NASDAQ:FB) stock from ‘Buy’ to ‘Neutral’ and pointed out that the decline in the user metrics for the company might impact their share prices as well. The stock price of the social network giant was down by around 0.2% on Tuesday, which dropped further today by 1.5%. Today’s drop in Facebook share price comes at the wake of the Wible’s downgrade.
“[Facebook] will start to face valuation headwinds in 2015 as top line growth, engagement, and MAU [monthly average users]naturally decelerate,” Wible was quoted as saying about the the company’s strong performance so far.
Today, the other tech stocks like Netflix, Inc. (NASDAQ:NFLX) and Microsoft Corporation (NASDAQ:MSFT) have dropped by 0.82% and 0.46% respectively. Although, tech companies like Apple Inc. (NASDAQ:AAPL), Hewlett-Packard Company (NYSE:HPQ), Amazon.com, Inc. (NASDAQ:AMZN), Yahoo! Inc. (NASDAQ:YHOO) and Groupon Inc (NASDAQ:GPRN) have inched up by 1.5%, 0.9%, 0.4%, 1.4% and 0.5%, respectively.
Apple Inc. (NASDAQ:AAPL) is planning to launch their large screen smartphone and smartwatch later this year and the 13-inch iPad in the beginning of 2015. All these expected launches are pushing the Apple stock to new heights.
Among the shareholders of Facebook Inc (NASDAQ:FB) is the Citadel Investment Group, managed by Ken Griffin, which holds around 4.5 million of the company shares.