Apple, eBay Latest Tech Casualties

Apple and eBay became the latest tech leaders to suffer investors’ wrath after warning that future results will come in below analysts’ expectations.

Shares of the two companies were down 4-5% in late trading Wednesday.

AMD fared much better — and also appears to be stealing market share at Intel’s expense.

AMD reported quarterly earnings of 45 cents a share — 19 cents above estimates — and sales of $1.84 billion topped $1.65 billion forecasts. AMD’s chip microprocessor revenues of $1.35 billion beat estimates by 10%, and while the company predicted “flat to slightly down” sales for the March quarter, that would still be well above $1.39 billion expectations.

AMD shares climbed 10% in late trading.

Apple reported better than expected results of 65-cent earnings and $5.75 billion sales, as the company signaled it would last week. However, the company’s March quarter guidance of 42-cent earnings and $4.3 billion revenues were below Wall Street forecasts of 48-cent earnings and $4.63 billion sales. On the company’s conference call, analysts questioned if the company was being too conservative with its guidance.

eBay’s earnings of 24 cents and sales of $1.33 billion topped forecasts, but the company’s full-year guidance was below Wall Street estimates of $1.02 earnings and $5.95 billion sales. Analysts also wondered if eBay was being too conservative with its guidance. One positive was the company’s prediction of $200 million in sales from its Skype unit this year.

Stocks fell during the day on disappointing results from Intel and Yahoo . Also weighing on U.S. stocks was a big sell-off in Japan on a financial scandal at Internet company Livedoor.

IBM added 1% on the company’s better than expected earnings.

The Nasdaq fell 23 to 2279, the S&P 500 lost 5 to 1277, and the Dow dropped 41 to 10,854. Volume rose to 2.21 billion shares on the NYSE, and 2.35 billion on the Nasdaq. Decliners led 17-15 on the NYSE, and 16-14 on the Nasdaq. Downside volume was 59% on the NYSE, and 63% on the Nasdaq. New highs-new lows were 98-34 on the NYSE, and 116-36 on the Nasdaq.

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