Technology stocks fell in Tuesday noon trading.

The world's largest semi-conductor firm, Intel Corp (INTC), dropped 3.4 percent to $20.88 in mid-day trading on Nasdaq, following a Goldman Sachs report which downgraded the company to a to Hold rating, from a Buy.

The firm believes that Wall-Street is expecting too much from the chip-maker as it approaches its earnings announcement.

Storage provider EMC (EMC) reported earnings of $283.7 million or 13 cents per share, down from 17 cents per share 1 year ago.

Shares of EMC fell 4 percent to $12.31 on the New York Stock Exchange after saying it would take a fourth-quarter charge of 6 cents a share to pay for the cost of job cuts as a result efficiency efforts and consolidation following recent acquisitions.

Shares of semiconductor equipment maker Lam Research (LRCX) also fell 3.2% to $50.41 following a downgrade from Lehman Brothers. Analyst Christopher Muse lowered the company’s rating based on the view that memory bookings have peaked and are unsustainable, adding that the company’s market share gains are slowing.

The technology-heavy Nasdaq Composite Index was down 32.05 points or 1.4 percent at noon time trading.