Tech Down as Concerns About Mega Cap Valuations Linger -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies fell as concerns lingered about the valuations of mega cap stocks in the wake of a dizzying run-up in the first half of the year. Apple shares compounded recent losses and are now more than 7% below their all-time high in May. Some brokers anticipate further gains for the sector, however. Technology, industrial and energy sectors have among the highest portion of their revenue from overseas, a factor that will count in their favor given the outlook for "synchronous" growth and a weakening dollar, said strategists at brokerage Morgan Stanley, in a note to clients.

Continue Reading Below

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

June 14, 2017 16:37 ET (20:37 GMT)