Shares of Compaq (NYSE: CPQ) were down 5-5/8 to 35-3/8 on Friday, after the world’s No. 1 manufacturer of PCs said that sales have been weak so far this year. The announcement led to a bad day overall in the computer sector, as many other big names, including IBM (NYSE: IBM) and Gateway (NYSE:GTW) were also hit hard.
Earlier in the week, Compaq confirmed that it had stopped selling its computers to Internet-only retailers while it reevaluates its e-commerce strategy. Suddenly, that strategy seems a lot more crucial. Shares of Compaq were down more than two points in early trading today.