Tech Stocks Down, Led By Data-Center Shares (EQIX, RAX, TMRK, SVVS, AKAM, AAPL, HPQ, MSFT, RIMM, NFLX)

US Tech stocks continued their downward movement with shares of many data-center-related companies leading the decline, after Equinix Inc

issued a revenue warning. Shares of Equinix tumbled about 32% after the company lowered its Q3 sales projections to $328 million to $330 million, down from its previous guidance of $335 million to $338 million. However, analysts estimated sales of about $337 million. Analysts at Oppenheimer, Citigroup and Wells Fargo downgraded Equinix's stock, after the warning. Shares of other data-center companies also moved down. Shares of Rackspace Hosting Inc

fell about 11.87%, Terremark Worldwide Inc shares

moved down about 4.84%, Savvis Inc

dropped about 11.60% and Akamai Technologies Inc.

fell about 8.06%. The decline in the sector was also due to weak ADP jobs report for September. The other decliners in the list include Apple Inc

, Hewlett-Packard Co

, Microsoft Corp

, Research In Motion Ltd

and Netflix Inc

. The Nasdaq Composite Index lost about 1.01%), while the Philadelphia Semiconductor Index moved down about 2.26%. The Morgan Stanley High Tech 35 Index fell about 1.94%. Read more