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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3874 Registered: 05-2011 Rating: N/A Votes: 0 Posted on Tuesday, January 04, 2022 - 2:46 pm:    Sector Briefing: Technology (172.99 -2.53) Five sectors trade in negative territory with top-weighted technology (-1.6%) sitting at the bottom of today's leaderboard. Key factors driving today's performance include: Weak showing from top components like Apple (AAPL 179.89, -2.12, -1.2%), Microsoft (MSFT 327.60, -7.15, -2.1%), and NVIDIA (NVDA 287.84, -13.37, -4.5%) and losses in roughly half of the sector's components keeping the sector at the bottom of today's leaderboard. Underperformance among chipmakers. The PHLX Semiconductor Index hit a fresh record high before reversing. It is currently down 1.6% with all but four components trading in the red. Notable movers: Service Now (NOW 586.65, -43.49, -6.9%): weakest performer in the sector, falling for the fourth consecutive day to its 200-day moving average (586.54). AMD (AMD 142.63, -7.61, -5.1%): weakest performer among chipmakers, falling back below its 50-day moving average (142.90). Company announced new products at CES. NVIDIA (NVDA 287.84, -13.37, -4.5%): falling back below its 50-day moving average (295.67). Company made minor product line update announcements at CES. Salesforce (CRM 246.30, -9.16, -3.6%): falling back below its 200-day moving average (253.65) back to its December low (245.25). Adobe (ADBE 544.44, -19.93, -3.5%): nearing its December low (538.05). PayPal (PYPL 189.27, -5.67, -2.9%): surrendering yesterday's gain. Applied Materials (AMAT 156.34, -3.59, -2.2%): surrendering yesterday's gain. Microsoft (MSFT 327.60, -7.15, -2.1%): falling for the fourth consecutive day past its 50-day moving average (332.70). Apple (AAPL 179.89, -2.12, -1.2%): touched a fresh record before turning negative. Visa (V 223.34, +1.91, +0.9%): climbed above its 200-day moving average (225.35) before falling back below that mark. MasterCard (MA 375.26, +4.31, +1.2%): rising for the third consecutive day to its best level since early August. Cognizant Tech (CTSH 91.51, +1.94, +2.2%): rallying to a fresh record high. Hewlett Packard Enterprise (HPE 16.87, +0.73, +4.5%): best performer in the sector, rising to its best level since late November. Barclays upgraded the stock to Overweight from Equal Weight with a $20 target.