CNBC folks have said there were some downgrades to Intel and the semiconductor sector is expected to have a slower growth going forward. In addition, with the Mid-East and Japan situation being what they are, people are rotating into safer bets.
I just added to my core position to both ADI and TEVA, as personally I believe this is a good price for the long-term picture. Tech is not dead, but it has been out of focus over the past month.
Most likely due to the Japanese eathquake. ADI has a customer base in Japan. The bet is cameras and TV's are going to take a back seat to survival issues such as food, shelter, and clothing. That's the theory right now.