TECH STOCKS: Tech Stocks Fall In Late Trading

By Rex Crum, MarketWatch

SAN FRANCISCO (MarketWatch) -- Tech stocks took a hard turn south in late trading Monday as the sector mirrored the performance of the broad market and closed with wide losses.

Not even Apple Inc. (AAPL) was able to maintain its early gains, despite a report from Canaccord Genuity analyst Michael Walkley that said surveys of consumers and supply chains indicate that sales of the larger-screen iPhone 6 and iPhone 6 Plus show "a greater mix of Android smartphone consumers switching to the iPhone 6 smartphone" than after the launch of Apple's iPhone 5 series of phones.

Apple (AAPL) ended the day down by almost 1% at $99.81 a share.

Yahoo Inc. (YHOO) fell 3% to close at $38.38 despite getting upgraded by BCG Capital analyst Colin Gillis to buy from hold. Gillis also raised his price target on Yahoo's stock to $50 a share from $37, and said he based his upgrade on a "sum-of-the-parts" value for Yahoo now that there is a public valuation for Alibaba Group (BABA), which was off by 18 cents a share at $85.70 Monday.

GoPro Inc. (GPRO) was one of the day's biggest decliners, as the wearable-camera maker's shares fell almost 10% to end the day at $76.67. A report from France said Formula One racing star Michael Schumacher's brain injury from a skiing accident in 2013 was caused by a GoPro camera that had been mounted on Schumacher's head.

Losses also came from Microsoft Corp. (MSFT), Pandora Media Inc. (P), Oracle Corp. (ORCL) and LinkedIn Corp. (LNKD).

Outerwall Inc. (OUTR) proved to be one of the few notable gainers on the day, as its shares rose 3.7% to close at $53.28.

Before the market opened, analyst Eric Wold, of B. Riley, raised his rating on the operator of Redbox DVD-rental kiosks to neutral from sell. Wold said that many of the risks to the stock expected over the next year are already forecast into Outerwall's share price.

The tech-heavy Nasdaq Composite Index (RIXF) ended up falling 62 points to close at 4,213 and the Philadelphia Semiconductor Index (SOX) fell more than 2%.

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