Facebook, Twitter, Amazon Stocks Tumble, but Apple Has a Good Day

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Traders work on the floor of the New York Stock Exchange on April 25, 2014 in New York City.

Image: Spencer Platt

By Seth Fiegerman2014-04-28 20:11:38 UTC

It looks like tech stocks are suffering from a case of the Mondays.

Facebook, Twitter, Amazon and other tech stocks each declined by 2% or more by the end of trading Monday as investors shift away from so-called "momentum" tech stocks with high valuations.

See also: Why Mobile Ads Are Seen as a Boon to Facebook, But a Plague to Google

There had been a broad selloff among tech stocks earlier this month, but there were signs of a rebound as earnings season got under way. The decline on Monday was a reminder of ongoing volatility in the tech sector.

There were, of course, more specific factors at play for some of these stocks. Amazon stock has declined on back-to-back trading days following its lukewarm earnings report Thursday, in which it projected a sizable operating loss in the upcoming quarter. Twitter is coming up on the end of a major stock lockup period.

Apple and Microsoft were two notable exceptions, increasing by nearly 4% and 2.5%, respectively, for the day.

Apple in particular is closing in on the $600 mark for the first time this year following a strong earnings report and news that it plans to boost its stock buyback by $30 billion.

FB data by YCharts

Topics: Business, stocks