Tech Stocks Climb - Technology Roundup
Shares of tech companies rose as Apple's product launches were generally well received. "We found the new iPhone launches generally met high expectations," said analysts at brokerage Nomura Securities, in a note to clients. "Apple is launching a suite of high Average-Selling-Price, powerful, lovely new phones into a loyal and hungry installed base." The Nomura analysts also anticipate strengthening in sales of Apple Watches, given advances in the Series 3 model. Similarly, analysts at brokerage Morgan Stanley said the "iPhone supercycle is underappreciated by the market," suggesting that a wave of upgrades will accelerate earnings growth for the tech giant. Apples shares closed 0.75% lower Wednesday.
-Rob Curran, [email protected]