Tech sector takes a hit after Apple downgrade

  • European bourses lower following Apple downgrade
  • Tech stocks under pressure
  • DAX index fell 1%, FTSE 100 dropped 0.8%
  • Train-maker Alstom fell 7% after price target cut
  • Chip-equipment makers ASML and ASM International fell in sympathy with sector
  • STMicroelectronics and Infineon Technologies also down
  • Tech sell-off triggered by Apple downgrade
  • Airbus shares fell 2% after talks to buy Atos’s cybersecurity unit
  • C4X Discovery shares soared nearly 50% after milestone payment from AstraZeneca

European bourses experienced a decline following a downgrade for Apple, which led to a sell-off in the tech sector. The DAX index in Frankfurt fell 1% and the FTSE 100 in London dropped 0.8%. Train-maker Alstom saw a 7% decrease in response to a price target cut. Chip-equipment makers ASML and ASM International fell in sympathy with the sector, along with STMicroelectronics and Infineon Technologies. The sell-off was triggered by a downgrade of Apple by Barclays. Additionally, Airbus shares fell 2% after talks to acquire Atos’s cybersecurity unit, while C4X Discovery saw a significant increase in shares after receiving a milestone payment from AstraZeneca.

Public Companies: Apple (AAPL), Alstom (ALO), ASML (ASML), ASM International (ASM), STMicroelectronics (STMPA), Infineon Technologies (IFX), Airbus (AIR), Atos (ATO), AstraZeneca (AZN)
Private Companies: undefined
Key People: Stephen Innes (Managing Partner at SPI Asset Management)

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Factuality Level: 7
Justification: The article provides information about the performance of European bourses and the factors affecting them, such as the downgrade of Apple and concerns about economic growth. The information seems to be based on factual events and market data. However, the article lacks in-depth analysis and context, and it includes some unnecessary details and tangential information.

Noise Level: 3
Justification: The article provides a brief overview of European bourses and the performance of technology stocks. It mentions specific companies and their stock movements. However, it lacks in-depth analysis, evidence, and actionable insights. The article also includes irrelevant information about text-to-speech technology and the age of the FTSE 100 index.

Financial Relevance: Yes
Financial Markets Impacted: European bourses, technology sector, chip-equipment makers, train-maker Alstom, Airbus

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the performance of European bourses, particularly the technology sector, which is under pressure due to a downgrade for Apple. There is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com