As Apple Slumps, So Does the Nasdaq

By Jonah Loeb Dec 05, 2012 3:06 pm

Also, Disney's deal with Netflix may turn out to be huge.

MINYANVILLE ORIGINAL The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) fell 0.48% to 2,982.25 at 3:00 p.m. EST today after a sizable drop by Apple (NASDAQ:AAPL).

The tech giant fell 4.76% to $548.21 as several clearing firms raised the margin requirement for Apple shares; the company's stock was also not helped by another looming legal confrontation with Samsung (PINK:SSNLF). Microsoft (NASDAQ:MSFT) had a good day, rising 1.35% to $26.73 despite a disastrous Twitter campaign against Android that backfired horribly.

Google (NASDAQ:GOOG) itself fell 0.52% to $687.51 due partly to ongoing legal struggles in Europe over its search prioritization. Other tech companies dragging the index down included Oracle (NASDAQ:ORCL), down 2.04% to $34.72, and Sirius XM Radio (NASDAQ:SIRI), which fell 0.36% to $2.75 as its competitors surged.

Chief among those is Netflix (NASDAQ:NFLX), which, although it fell 1.58% to $85.10, generated huge buzz over its distribution deal with Disney (NYSE:DIS). Multiple media outlets reported that the deal, which allows Netflix to stream a huge number of Disney productions, could be a game-changer in the competition for the streaming video market.