In case you haven't heard, the bottom fell out of the Nasdaq today. Indeed, three of the biggest megacap tech stocks are already down more than 5%, with shares of Netflix (NASDAQ: NFLX) off 5.1%, and both salesforce.com (NYSE: CRM) and Adobe Systems (NASDAQ: ADBE) falling 5.7%. Before you start worrying that there's something you missed, let me set your mind at ease: No one on Wall Street downgraded Netflix, Salesforce, or Adobe today; analysts didn't so much as tweak a price target. Read More...
Why Megacap Stocks Netflix, Salesforce, and Adobe All Fell More Than 5% Today
In case you haven’t heard, the bottom fell out of the Nasdaq today. Indeed, three of the biggest megacap tech stocks are already down more than 5%, with shares of Netflix (NASDAQ: NFLX) off 5.1%, and both salesforce.com (NYSE: CRM) and Adobe Systems (NASDAQ: ADBE) falling 5.7%. Before you start worrying that there’s something you missed, let me set your mind at ease: No one on Wall Street downgraded Netflix, Salesforce, or Adobe today; analysts didn’t so much as tweak a price target.
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