Walmart goes cheap with Wii gift card

TECH STOCKS: Techs Cling To Small Gains; GameStop Shares Fall

wii

The tech sector finished with modest gains Wednesday, but shares of GameStop Corp. fell sharply after Wal-Mart Stores Inc. said it was cutting video-game prices.

GameStop (GME) declined 8.3% after Wal-Mart (WMT) unveiled a plan to lower prices on select video games.

Meanwhile, the tech sector got a boost from gains in shares of chip makers and Amazon.com Inc. (AMZN), which helped to push the Nasdaq Composite Index (RIXF) up a fraction to 2,185.

Shares of Amazon added 2.7%.

The Philadelphia Semiconductor Index (SOX) also advanced, gaining 1.6% as investors grew more upbeat about the industry’s direction.

In a Wednesday report, Wells Fargo analyst David Wong noted the “continuing improvement” in semiconductor demand and in the personal-computer market.

Walmart is famous for their low, low prices for selected products, and has just added another feather to their cap with a Nintendo Wii console deal. A $50 Walmart gift card will come along with each $199 Wii console purchase, which means it basically costs a mere $149 when you reach the counter. Released this Saturday, this tantalizing offer will end one week after that. It does make us wonder what Amazon will do to counter such a delicious offer though.  Anyone needs a new Wii this Christmas?