Tech Down On Smart-Phone Sales, Debt-Ceiling Worries -- Tech Roundup

Features Dow Jones Newswires

Shares of tech companies ticked down amid uncertainty about the outlook for smart-phone sales and the debt-ceiling debate.

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Shared-office space company WeWork Cos raised an additional $3 billion from Japan's SoftBank GroupCorp. The investment is part of Masayoshi Son's efforts to establish a Vision Fund for global investors seeking to stay ahead of major changes in the IT age.

Analysts were divided on whether the positive reviews for the large-screen Samsung Galaxy Note 8 phone would have an effect on demand for Apple's iPhone 8.

The niche of "quantum computing" could have a substantial effect on the tech industry in the near future, according to one brokerage. "Widespread quantum computing is about to become a reality and holds the key to double the high-end computing market from $5 billion to $10 billion," said analysts at brokerage Morgan Stanley, in a research note.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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August 24, 2017 16:44 ET (20:44 GMT)