Shares of tech companies declined as traders continued to retreat from the sector that had led the stock market for much of the year. Under intense political pressure to better block terrorist propaganda on the internet, Facebook said it has expanded use of artificial intelligence to identify terrorist posting. Shares of mega cap tech companies have retreated in recent sessions after gaining for most of the first half. Amazon.com's rich valuation may have some logic, said analysts at brokerage Nomura Securities, in a research note. "We think that optimism for Alexa/AI, the large advertising opportunity, and video growth initiatives have provided investors increased confidence in Amazon's long-term addressable market opportunities, this as the company continues to flex its muscles in its core ecommerce businesses," said analysts at brokerage Nomura Securities, in a note to clients.
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(END) Dow Jones Newswires
June 15, 2017 16:28 ET (20:28 GMT)