Red Hot Tech Stocks Report Ugly Numbers, And Their Stocks Are Tanking


NASDAQ futures are slightly higher this morning, but there is some really ugly news on the tech side (hardware).

Red-hot optical network Finisar is watching its stock plunge over 30%, after reporting a surprise weakening in demand in… China.

Falling in sympathy is JDS Uniphase, which is one of the hottest stocks in the world.

Meanwhile, shares of chip maker Texas Instruments also slid after hours, after its earnings failed to meet expectations. It specifically cited slack PC demand for the underwhelming results.

Overall, it’s been an ugly period for a lot of hardware companies. HP has been on a weak run, not to mention Cisco, which continues to disappoint investors.

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