After trending higher throughout much of the past month, computer hardware stocks are giving back some ground in morning trading on Thursday.
The pullback by the computer hardware sector is reflected by the 1.6 percent loss being shown by the NYSE Arca Computer Hardware Index, which ended the previous session at a four-month closing high.
Profit taking is contributing to the weakness in the sector, with traders cashing on the recent gains by computer hardware stocks despite the release of some upbeat economic data.
NetApp (NTAP) is turning in one of the sector’s worst performances, falling by 3.8 percent.
With the loss, NetApp is pulling back further off the more than nine-year closing high it set on Tuesday.
Additionally, shares of Lexmark (LXK) are currently down by 2.4 percent after ending the previous session at their best closing level in over three years.
Western Digital (WDC), Dell (DELL), and Seagate Technology (STX) are also posting notable losses, pulling back off of yesterday’s highs.
Source:http://www.rttnews.com/Content/sector-market-trends.aspx?Node=B5&Id=1433429
