10 ways to trade Intel's drop

Visitors take pictures next to the Intel logo outside of the Intel headquarters in Santa Clara, Calif.
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Visitors take pictures next to the Intel logo outside of the Intel headquarters in Santa Clara, Calif.

Intel, the world's largest chipmaker, on Thursday said first-quarter revenue could be almost $1 billion lower than it previously expected. Investors shouldn't take this news lightly as the fate of every technology company in the S&P 500 is in some way affected by Intel's outlook on the world, trading history shows.

Since 2005, Intel fell more than 3 percent on 120 days, according to Kensho, a quantitative tool used by hedge funds. On average, all 76 members of the technology sector declined on those days as well, history shows.

This is news to investors as more than half of the sector traded higher in Thursday morning trading, including names like Cisco and Apple. The overall market was higher as well.

But if one believes Intel's outlook sours the investing picture on the technology industry and the many other companies where chip technology is crucial to their operating performance, here are the top stocks to bet against.

The following are the biggest tech stock losers on a day when Intel falls more than 3 percent, as it did on Thursday.